The Timken Company (NYSE:TKR) Shares Acquired by Millennium Management LLC

Millennium Management LLC grew its stake in The Timken Company (NYSE:TKR - Free Report) by 1,421.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 458,700 shares of the industrial products company's stock after buying an additional 428,545 shares during the period. Millennium Management LLC owned 0.65% of Timken worth $32,737,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TKR. Barclays PLC boosted its holdings in shares of Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock valued at $7,307,000 after buying an additional 59,716 shares in the last quarter. Park Avenue Securities LLC raised its position in Timken by 13.6% in the 4th quarter. Park Avenue Securities LLC now owns 3,093 shares of the industrial products company's stock valued at $221,000 after purchasing an additional 371 shares during the last quarter. Sheets Smith Wealth Management raised its position in Timken by 3.4% in the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock valued at $418,000 after purchasing an additional 190 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Timken by 25.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock valued at $7,644,000 after purchasing an additional 22,003 shares during the last quarter. Finally, Inspire Investing LLC raised its position in Timken by 15.2% in the 4th quarter. Inspire Investing LLC now owns 5,647 shares of the industrial products company's stock valued at $403,000 after purchasing an additional 746 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Performance

Timken stock traded down $0.83 during trading hours on Friday, reaching $68.48. 375,851 shares of the stock were exchanged, compared to its average volume of 569,847. The stock has a market cap of $4.79 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a 52-week low of $56.20 and a 52-week high of $90.49. The firm's 50 day moving average is $67.14 and its 200 day moving average is $73.25.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). Timken had a return on equity of 13.93% and a net margin of 7.71%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the company posted $1.77 EPS. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. Analysts predict that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This is a boost from Timken's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.04%. Timken's dividend payout ratio is 30.17%.

Analyst Ratings Changes

Several research firms recently commented on TKR. Morgan Stanley reduced their price target on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. DA Davidson upped their price target on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Evercore ISI reduced their price target on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Oppenheimer reduced their price target on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Loop Capital reduced their price target 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.