Point72 Asset Management L.P. Purchases 43,289 Shares of The Timken Company (NYSE:TKR)

Point72 Asset Management L.P. lifted its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 64.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,289 shares of the industrial products company's stock after buying an additional 43,289 shares during the quarter. Point72 Asset Management L.P. owned about 0.16% of Timken worth $7,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TKR. Victory Capital Management Inc. lifted its stake in Timken by 418.4% in 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 purchased a new stake in Timken in the 4th quarter worth approximately $42,748,000. Millennium Management LLC lifted its stake in Timken by 1,421.1% in 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. lifted its stake in Timken by 11.3% in 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 purchasing an additional 320,354 shares in the last quarter. Finally, Becker Capital Management Inc. purchased a new stake in Timken in the 4th quarter worth approximately $15,550,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Trading Down 1.2%

Shares of TKR stock traded down $0.83 on Friday, hitting $68.48. 375,851 shares of the company's stock traded hands, compared to its average volume of 569,847. 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 Timken Company has a one year low of $56.20 and a one year high of $90.49. The company's fifty day simple moving average is $67.14 and its 200 day simple moving average is $73.25. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.51 and a beta of 1.30.

Timken (NYSE:TKR - Get Free Report) last released its 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 7.71% and a return on equity of 13.93%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Tuesday, May 13th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.04%. This is a positive change from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio (DPR) is currently 30.17%.

Analyst Ratings Changes

Several analysts have issued reports on TKR shares. Jefferies Financial Group reiterated a "hold" rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Citigroup increased their target price on shares of Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley lowered their price objective on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Oppenheimer lowered their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $78.50.

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.