Nomura Holdings Inc. Makes New Investment in The Timken Company (NYSE:TKR)

Nomura Holdings Inc. purchased a new stake in shares of The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 8,466 shares of the industrial products company's stock, valued at approximately $604,000.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in shares of Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company's stock worth $141,000 after acquiring an additional 158 shares in the last quarter. Amundi boosted its holdings in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after buying an additional 174 shares during the last quarter. Ethic Inc. raised its stake in Timken by 2.8% during the 4th quarter. Ethic Inc. now owns 6,882 shares of the industrial products company's stock worth $491,000 after acquiring an additional 188 shares during the period. Sheets Smith Wealth Management raised its stake in Timken by 3.4% during the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock worth $418,000 after acquiring an additional 190 shares during the period. Finally, Principal Securities Inc. raised its stake in Timken by 7.8% during the 4th quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company's stock worth $204,000 after acquiring an additional 207 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TKR shares. Loop Capital reduced their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley lowered their target price on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Evercore ISI dropped their target price on shares of Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. DA Davidson increased 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. Finally, The Goldman Sachs Group decreased 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $78.50.

Timken Price Performance

NYSE:TKR traded down $0.83 during trading hours on Friday, hitting $68.48. The company's stock had a trading volume of 375,851 shares, compared to its average volume of 569,775. The Timken Company has a 52-week low of $56.20 and a 52-week high of $90.49. The company has a market capitalization of $4.79 billion, a PE ratio of 13.72, a PEG ratio of 1.51 and a beta of 1.30. The business's 50-day moving average is $67.14 and its two-hundred day moving average is $73.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results 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 business 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 firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 EPS. As a group, research analysts anticipate that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

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

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.