Lecap Asset Management Ltd. Purchases New Stake in Timken Company (The) (NYSE:TKR)

Lecap Asset Management Ltd. bought a new stake in Timken Company (The) (NYSE:TKR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,212 shares of the industrial products company's stock, valued at approximately $446,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Timken by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock valued at $461,461,000 after purchasing an additional 26,973 shares during the period. American Century Companies Inc. grew its stake in shares of Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after buying an additional 320,354 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Timken by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company's stock valued at $159,403,000 after buying an additional 124,676 shares during the period. Earnest Partners LLC lifted its position in Timken by 0.3% during the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company's stock worth $92,433,000 after acquiring an additional 3,594 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Timken by 5.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company's stock worth $91,711,000 after acquiring an additional 63,485 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Down 0.8%

NYSE:TKR traded down $0.59 during mid-day trading on Monday, reaching $72.62. The stock had a trading volume of 578,001 shares, compared to its average volume of 584,431. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The stock's 50 day simple moving average is $69.73 and its two-hundred day simple moving average is $72.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.15 and a quick ratio of 1.71. Timken Company has a 1-year low of $56.20 and a 1-year high of $90.49.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business earned $1.77 earnings per share. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. Equities analysts anticipate that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, May 13th. This is an increase from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio is currently 30.17%.

Analysts Set New Price Targets

TKR has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Loop Capital decreased their price objective on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Evercore ISI lowered their target price on Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Finally, Citigroup boosted their price target on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $79.00.

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.