Fuller & Thaler Asset Management Inc. Purchases 93,216 Shares of Timken Company (The) $TKR

Key Points

• Fuller & Thaler Asset Management Inc. has increased its stake in Timken Company by 7.3%, purchasing an additional 93,216 shares during the first quarter.
• Timken recently reported a quarterly earnings per share of $1.42, exceeding the consensus estimate by $0.08, despite a 0.8% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.35 per share, equating to an annualized dividend yield of 1.8% and a dividend payout ratio of 31.82%.

Fuller & Thaler Asset Management Inc. grew its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,378,229 shares of the industrial products company's stock after purchasing an additional 93,216 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 1.97% of Timken worth $99,053,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Quantbot Technologies LP boosted its stake in shares of Timken by 14.8% during the 1st quarter. Quantbot Technologies LP now owns 33,938 shares of the industrial products company's stock worth $2,439,000 after acquiring an additional 4,371 shares during the period. Northern Trust Corp boosted its stake in Timken by 8.4% in the 1st quarter. Northern Trust Corp now owns 662,696 shares of the industrial products company's stock valued at $47,628,000 after purchasing an additional 51,183 shares during the period. Raymond James Financial Inc. boosted its stake in Timken by 5.1% in the 1st quarter. Raymond James Financial Inc. now owns 212,935 shares of the industrial products company's stock valued at $15,304,000 after purchasing an additional 10,327 shares during the period. American Century Companies Inc. boosted its stake in Timken by 7.3% in the 1st quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company's stock valued at $243,648,000 after purchasing an additional 231,435 shares during the period. Finally, Ethic Inc. boosted its stake in Timken by 2.5% in the 1st quarter. Ethic Inc. now owns 7,056 shares of the industrial products company's stock valued at $485,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Analysts Set New Price Targets

TKR has been the subject of several recent research reports. Citigroup boosted their price target on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Oppenheimer reduced their price target on Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. DA Davidson upped their target price on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Evercore ISI cut their target price on Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.90.

Timken Stock Performance

Shares of TKR opened at $75.94 on Monday. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.67 and a beta of 1.30. The stock has a 50 day moving average of $75.57 and a 200 day moving average of $73.05. Timken Company has a 12 month low of $56.20 and a 12 month high of $87.52.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.08. Timken had a return on equity of 11.78% and a net margin of 6.86%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company earned $1.63 earnings per share. Timken's revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 19th. Timken's dividend payout ratio (DPR) is presently 31.82%.

Timken 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.

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