Oak Thistle LLC Takes $968,000 Position in Timken Company (The) (NYSE:TKR)

Oak Thistle LLC bought a new stake in shares of Timken Company (The) (NYSE:TKR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,470 shares of the industrial products company's stock, valued at approximately $968,000.

Other hedge funds also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new position in shares of Timken in the fourth quarter valued at about $66,000. UMB Bank n.a. increased its holdings in shares of Timken by 400.0% in the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 800 shares during the period. GAMMA Investing LLC increased its holdings in shares of Timken by 282.3% in the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of Timken in the first quarter valued at about $108,000. Finally, Blue Trust Inc. increased its holdings in shares of Timken by 9.2% in the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock valued at $147,000 after purchasing an additional 173 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Price Performance

Shares of NYSE TKR traded up $0.92 during midday trading on Friday, hitting $81.68. The stock had a trading volume of 373,194 shares, compared to its average volume of 568,308. The company has a market capitalization of $5.71 billion, a PE ratio of 17.60, a P/E/G ratio of 1.77 and a beta of 1.27. The stock has a 50 day simple moving average of $73.78 and a 200-day simple moving average of $73.10. Timken Company has a 1 year low of $56.20 and a 1 year high of $90.49. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68.

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). Timken had a net margin of 7.24% and a return on equity of 12.62%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business posted $1.77 EPS. Timken's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently announced 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 boost 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 annualized dividend and a yield of 1.71%. Timken's dividend payout ratio (DPR) is 30.17%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TKR. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. DA Davidson upped their target price on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Evercore ISI lowered their target price on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. The Goldman Sachs Group lowered their target price on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Citigroup increased their price target on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $79.90.

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.