Cooke & Bieler LP Invests $18.04 Million in Timken Company (The) (NYSE:TKR)

Cooke & Bieler LP bought a new position in shares of Timken Company (The) (NYSE:TKR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 251,020 shares of the industrial products company's stock, valued at approximately $18,041,000. Cooke & Bieler LP owned 0.36% of Timken at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TKR. Blue Trust Inc. boosted its stake in Timken by 9.2% during the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock valued at $147,000 after buying an additional 173 shares during the period. Amundi boosted its stake in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after buying an additional 174 shares during the period. Ethic Inc. boosted its stake in Timken by 2.8% during the fourth quarter. Ethic Inc. now owns 6,882 shares of the industrial products company's stock valued at $491,000 after buying an additional 188 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Timken by 2.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company's stock worth $537,000 after buying an additional 188 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Timken by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock worth $2,523,000 after buying an additional 190 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of research reports. Evercore ISI cut their price target on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Loop Capital cut their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group cut their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Oppenheimer cut their price target on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $79.00.

Timken Trading Up 0.2%

NYSE:TKR traded up $0.15 during midday trading on Friday, reaching $79.28. 634,982 shares of the stock traded hands, compared to its average volume of 586,141. The company has a fifty day moving average of $72.82 and a 200 day moving average of $72.76. Timken Company has a 12 month low of $56.20 and a 12 month high of $90.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The stock has a market capitalization of $5.55 billion, a P/E ratio of 17.09, a PEG ratio of 1.82 and a beta of 1.27.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.03). Timken had a return on equity of 12.62% and a net margin of 7.24%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company posted $1.77 earnings per share. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts predict that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were issued a $0.35 dividend. The ex-dividend date was Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 1.77%. Timken's dividend payout ratio is 30.17%.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.