Royce & Associates LP Increases Stake in Timken Company (The) (NYSE:TKR)

Royce & Associates LP boosted its position in Timken Company (The) (NYSE:TKR - Free Report) by 4.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 416,964 shares of the industrial products company's stock after purchasing an additional 19,069 shares during the period. Royce & Associates LP owned about 0.60% of Timken worth $29,967,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Associates Ltd. boosted its position in shares of Timken by 0.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 25,605 shares of the industrial products company's stock worth $1,840,000 after acquiring an additional 155 shares in the last quarter. Blue Trust Inc. lifted its holdings in Timken by 9.2% in the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock valued at $147,000 after buying an additional 173 shares during the period. Ethic Inc. grew its stake in Timken by 2.8% during the fourth quarter. Ethic Inc. now owns 6,882 shares of the industrial products company's stock worth $491,000 after purchasing an additional 188 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Timken by 2.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company's stock worth $537,000 after acquiring an additional 188 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Timken by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock valued at $2,523,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Up 1.1%

Shares of TKR traded up $0.92 during mid-day trading on Friday, reaching $81.68. The company had a trading volume of 373,194 shares, compared to its average volume of 568,308. Timken Company has a 52 week low of $56.20 and a 52 week high of $90.49. 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 firm has a 50-day moving average price of $73.78 and a 200 day moving average price of $73.10. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The business's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 earnings per share. On average, sell-side analysts forecast that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio is presently 30.17%.

Wall Street Analyst Weigh In

A number of research firms recently commented on TKR. Loop Capital lowered their price target on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Oppenheimer dropped their price target on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group cut their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. DA Davidson lifted their price target on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Citigroup increased their target price on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Six investment 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 presently has an average rating of "Hold" and a consensus price target of $79.90.

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.