Mackenzie Financial Corp Makes New Investment in The Timken Company (NYSE:TKR)

Mackenzie Financial Corp purchased a new stake in The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,140 shares of the industrial products company's stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TKR. Fairway Wealth LLC acquired a new stake in Timken during the fourth quarter worth $29,000. Amundi increased its stake in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after acquiring an additional 174 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in Timken during the fourth quarter worth $66,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Timken during the fourth quarter worth $109,000. Finally, AlphaQuest LLC increased its stake in Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock worth $112,000 after acquiring an additional 1,559 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Up 1.5%

NYSE:TKR traded up $1.09 during midday trading on Friday, reaching $71.84. The company had a trading volume of 331,079 shares, compared to its average volume of 574,198. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.51 and a beta of 1.28. The stock's fifty day simple moving average is $66.36 and its 200-day simple moving average is $72.89. The Timken Company has a 12-month low of $56.20 and a 12-month high of $90.49. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.77 earnings per share. On average, sell-side analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.95%. This is an increase from Timken's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. Timken's payout ratio is 30.17%.

Wall Street Analyst Weigh In

TKR has been the subject of several recent analyst reports. 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 note on Monday, May 19th. Loop Capital dropped their price objective on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Citigroup lifted their price objective on Timken from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley dropped their price objective on Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, DA Davidson lifted their price objective on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $78.50.

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.