Teacher Retirement System of Texas Grows Holdings in Timken Company (The) (NYSE:TKR)

Teacher Retirement System of Texas increased its stake in Timken Company (The) (NYSE:TKR - Free Report) by 77.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,912 shares of the industrial products company's stock after buying an additional 5,212 shares during the quarter. Teacher Retirement System of Texas' holdings in Timken were worth $856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi grew its position in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $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 worth approximately $66,000. UMB Bank n.a. grew its holdings in shares of Timken by 400.0% in the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock worth $72,000 after purchasing an additional 800 shares during the last quarter. GAMMA Investing LLC increased its position in Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares during the period. Finally, Alpine Bank Wealth Management purchased a new position in Timken during the 1st quarter valued at $108,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Stock Performance

TKR traded down $0.21 during midday trading on Friday, hitting $78.93. 300,863 shares of the company traded hands, compared to its average volume of 661,614. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $5.52 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.82 and a beta of 1.27. The company's 50-day moving average is $72.82 and its 200 day moving average is $72.76. Timken Company has a 52 week low of $56.20 and a 52 week high of $90.49.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 7.24% and a return on equity of 12.62%. Timken's revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 EPS. On average, research analysts expect that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, May 13th. This is a boost from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio is 30.17%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TKR shares. Oppenheimer reduced 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. Evercore ISI reduced their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Loop Capital reduced their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group reduced their target price 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, Citigroup upped their target price on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Six 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, the company currently has an average rating of "Hold" and an average target price of $79.00.

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.