Timken Company (The) (NYSE:TKR) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its position in shares of Timken Company (The) (NYSE:TKR - Free Report) by 15.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,116 shares of the industrial products company's stock after selling 3,359 shares during the period. M&T Bank Corp's holdings in Timken were worth $1,302,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its position in Timken by 79.4% in the 4th quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock valued at $1,915,000 after buying an additional 11,876 shares during the period. GAMMA Investing LLC boosted its position in Timken by 282.3% in the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after buying an additional 847 shares during the period. Teacher Retirement System of Texas boosted its position in Timken by 77.8% in the 1st quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock valued at $856,000 after buying an additional 5,212 shares during the period. Raymond James Financial Inc. purchased a new stake in Timken in the 4th quarter valued at about $14,460,000. Finally, State of Alaska Department of Revenue boosted its position 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 valued at $2,523,000 after buying an additional 190 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Stock Up 3.3%

Shares of NYSE TKR traded up $2.56 during trading hours on Thursday, hitting $79.24. 626,682 shares of the stock were exchanged, compared to its average volume of 585,946. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68. The company has a market cap of $5.54 billion, a PE ratio of 17.08, a PEG ratio of 1.82 and a beta of 1.27. The firm has a fifty day moving average price of $72.82 and a 200-day moving average price of $72.76. Timken Company has a 12 month low of $56.20 and a 12 month high of $90.49.

Timken (NYSE:TKR - Get Free Report) last posted 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). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The company's revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 EPS. On average, sell-side analysts expect that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

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

Wall Street Analyst Weigh In

TKR has been the subject of several research reports. DA Davidson boosted their price objective 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. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. The Goldman Sachs Group lowered their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley lowered 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. Finally, Citigroup upped their price target on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.00.

About Timken

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.