Polar Asset Management Partners Inc. Decreases Stock Holdings in The Timken Company (NYSE:TKR)

Polar Asset Management Partners Inc. cut its stake in The Timken Company (NYSE:TKR - Free Report) by 75.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,600 shares of the industrial products company's stock after selling 49,800 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Timken were worth $1,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew 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 worth $461,461,000 after acquiring an additional 26,973 shares during the period. American Century Companies Inc. grew its stake in shares of Timken by 11.3% in 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 acquiring an additional 320,354 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Timken by 5.9% in the fourth 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 during the period. Earnest Partners LLC grew its stake in shares of Timken by 0.3% in the fourth 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 during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Timken by 5.2% in the fourth 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 during the period. 89.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TKR. Morgan Stanley cut their target price on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Evercore ISI dropped their price target on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Citigroup upped their price target on shares of Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Oppenheimer dropped their price target 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. Finally, Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $78.50.

Timken Price Performance

Shares of NYSE:TKR traded down $1.18 during midday trading on Friday, reaching $68.52. 567,287 shares of the company were exchanged, compared to its average volume of 570,306. 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 business's fifty day moving average is $66.54 and its two-hundred day moving average is $73.03. The Timken Company has a one year low of $56.20 and a one year high of $90.49. The stock has a market cap of $4.79 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.

Timken (NYSE:TKR - Get Free Report) last issued 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. Timken's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 EPS. As a group, analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were paid a dividend of $0.35 per share. This is an increase 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 yield of 2.04%. Timken's dividend payout ratio is presently 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.