The Timken Company (NYSE:TKR) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. trimmed its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 23.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,000 shares of the industrial products company's stock after selling 4,000 shares during the period. Olstein Capital Management L.P.'s holdings in Timken were worth $934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Timken by 1.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 356,589 shares of the industrial products company's stock worth $24,908,000 after buying an additional 5,221 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Timken by 88.3% in the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock worth $134,000 after buying an additional 880 shares during the period. Principal Securities Inc. boosted its stake in shares of Timken by 7.8% during the fourth quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company's stock valued at $204,000 after purchasing an additional 207 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Timken by 22.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 28,560 shares of the industrial products company's stock worth $2,038,000 after acquiring an additional 5,163 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Timken by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company's stock valued at $55,928,000 after purchasing an additional 30,411 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TKR. Loop Capital reduced their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. DA Davidson boosted their price objective on shares of Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Oppenheimer decreased their target price 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. Evercore ISI lowered their target price on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $70.00 price objective (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Timken presently has an average rating of "Hold" and a consensus target price of $78.50.

Timken Stock Performance

TKR stock traded down $0.22 during midday trading on Thursday, reaching $72.02. The stock had a trading volume of 321,529 shares, compared to its average volume of 574,107. The firm has a fifty day simple moving average of $66.84 and a two-hundred day simple moving average of $72.84. The Timken Company has a 52-week low of $56.20 and a 52-week high of $90.49. 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 stock has a market cap of $5.04 billion, a PE ratio of 14.43, a P/E/G ratio of 1.51 and a beta of 1.28.

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

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were given 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 was Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.94%. Timken's dividend payout ratio (DPR) is 30.17%.

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.