Oppenheimer & Co. Inc. Boosts Holdings in Timken Company (The) (NYSE:TKR)

Oppenheimer & Co. Inc. boosted its position in Timken Company (The) (NYSE:TKR - Free Report) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.11% of Timken worth $5,326,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TKR. Vanguard Group Inc. boosted its stake in shares of Timken by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock valued at $461,461,000 after buying an additional 26,973 shares in the last quarter. American Century Companies Inc. boosted its holdings in Timken by 11.3% during the fourth 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Timken by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company's stock worth $159,403,000 after acquiring an additional 124,676 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Timken by 0.3% during the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company's stock worth $92,433,000 after acquiring an additional 3,594 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Timken by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company's stock worth $91,711,000 after acquiring an additional 63,485 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. The Goldman Sachs Group decreased their target price on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Loop Capital decreased their price objective 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. Jefferies Financial Group reiterated 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. Evercore ISI reduced their price target 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. Finally, Morgan Stanley reduced their price target on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $79.00.

Timken Stock Performance

Shares of TKR opened at $73.69 on Wednesday. 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 company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.69 and a beta of 1.28. The company's 50 day simple moving average is $68.74 and its 200 day simple moving average is $72.45. Timken Company has a 1 year low of $56.20 and a 1 year high of $90.49.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). Timken had a return on equity of 12.62% and a net margin of 7.24%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the company earned $1.77 EPS. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts predict that 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. Investors 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 1.90%. Timken's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.