Oppenheimer & Co. Inc. Has $5.33 Million Holdings in Timken Company (The) (NYSE:TKR)

Oppenheimer & Co. Inc. lifted its position in Timken Company (The) (NYSE:TKR - Free Report) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,100 shares of the industrial products company's stock after buying an additional 6,579 shares during the period. Oppenheimer & Co. Inc. owned about 0.11% of Timken worth $5,326,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock worth $62,959,000 after purchasing an additional 711,979 shares in the last quarter. Norges Bank bought a new position in Timken during the 4th quarter worth about $42,748,000. Millennium Management LLC increased its holdings in Timken by 1,421.1% during the 4th quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock worth $32,737,000 after purchasing an additional 428,545 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Timken by 11.3% during the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock worth $225,436,000 after buying an additional 320,354 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in shares of Timken by 193.8% during the 4th quarter. Voloridge Investment Management LLC now owns 364,498 shares of the industrial products company's stock worth $26,014,000 after buying an additional 240,417 shares during the last quarter. Institutional investors own 89.08% of the company's stock.

Timken Stock Performance

NYSE:TKR traded down $0.71 during mid-day trading on Friday, hitting $73.32. The stock had a trading volume of 1,549,334 shares, compared to its average volume of 584,457. The company's 50 day simple moving average is $69.48 and its 200 day simple moving average is $72.36. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.74 and a beta of 1.28. Timken Company has a twelve month low of $56.20 and a twelve month high of $90.49.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $1.77 earnings per share. On average, equities research analysts forecast that Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This is an increase from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 1.91%. Timken's dividend payout ratio (DPR) is 30.17%.

Analyst Ratings Changes

TKR has been the subject of a number of recent research reports. Evercore ISI reduced their price objective 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. The Goldman Sachs Group reduced their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Citigroup increased their price objective on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday. Jefferies Financial Group restated a "hold" rating and set a $70.00 price objective (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price objective 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. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $79.00.

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.