Squarepoint Ops LLC Sells 78,178 Shares of The Timken Company (NYSE:TKR)

Squarepoint Ops LLC lessened its stake in The Timken Company (NYSE:TKR - Free Report) by 91.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,761 shares of the industrial products company's stock after selling 78,178 shares during the quarter. Squarepoint Ops LLC's holdings in Timken were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of TKR. First Horizon Advisors Inc. raised its position in Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company's stock worth $141,000 after buying an additional 158 shares during the last quarter. Amundi raised its position in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after buying an additional 174 shares during the last quarter. Ethic Inc. raised its position in Timken by 2.8% in the 4th quarter. Ethic Inc. now owns 6,882 shares of the industrial products company's stock worth $491,000 after buying an additional 188 shares during the last quarter. ProShare Advisors LLC raised its position in Timken by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 2,986 shares of the industrial products company's stock worth $213,000 after buying an additional 204 shares during the last quarter. Finally, Principal Securities Inc. raised its position in Timken by 7.8% in the 4th quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company's stock worth $204,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Stock Performance

Shares of NYSE TKR traded up $0.16 during midday trading on Thursday, hitting $70.75. 381,824 shares of the company's stock traded hands, compared to its average volume of 571,529. The firm has a fifty day moving average of $66.32 and a 200 day moving average of $72.93. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. 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 1 year low of $56.20 and a 1 year high of $90.49.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). Timken had a net margin of 7.71% and a return on equity of 13.93%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $1.77 earnings per share. The company's revenue was down 4.2% compared to the same quarter last year. On average, analysts forecast 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. Shareholders of record on Tuesday, May 13th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.98%. This is an increase from Timken's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, May 13th. Timken's dividend payout ratio is presently 30.17%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their target price on Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. DA Davidson raised their price target on Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Loop Capital dropped their price target on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Evercore ISI dropped their price target on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, Citigroup upped their price target on shares of Timken from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $78.50.

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.