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

Point72 Asset Management L.P. increased its position in shares of The Timken Company (NYSE:TKR - Free Report) by 64.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,289 shares of the industrial products company's stock after purchasing an additional 43,289 shares during the period. Point72 Asset Management L.P. owned 0.16% of Timken worth $7,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of Timken in the fourth quarter valued at $29,000. Amundi increased its holdings in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after buying an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Timken in the fourth quarter valued at $66,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Timken in the fourth quarter valued at $109,000. Finally, AlphaQuest LLC grew its position in Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock worth $112,000 after purchasing an additional 1,559 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group restated a "hold" rating and set a $70.00 price target (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Morgan Stanley lowered 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. Oppenheimer lowered their price target on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. 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. Finally, Loop Capital reduced their price objective on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $78.50.

Timken Stock Performance

Timken stock traded down $2.92 on Wednesday, reaching $69.57. 627,779 shares of the stock were exchanged, compared to its average volume of 568,957. The stock has a market cap of $4.87 billion, a PE ratio of 13.94, a PEG ratio of 1.51 and a beta of 1.30. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The Timken Company has a twelve month low of $56.20 and a twelve month high of $91.77. The firm has a fifty day moving average price of $67.38 and a two-hundred day moving average price of $73.42.

Timken (NYSE:TKR - Get Free Report) last released its 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). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. The firm's revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. Sell-side analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be 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 is Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.01%. Timken's payout ratio is currently 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.