Tema Etfs LLC acquired a new position in shares of The Timken Company (NYSE:TKR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 87,105 shares of the industrial products company's stock, valued at approximately $6,217,000. Timken makes up about 2.6% of Tema Etfs LLC's investment portfolio, making the stock its 5th biggest position. Tema Etfs LLC owned about 0.12% of Timken at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC bought a new position in Timken in the 4th quarter valued at about $29,000. Amundi lifted its position in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new position in Timken in the 4th quarter valued at about $66,000. Kohmann Bosshard Financial Services LLC bought a new position in Timken in the 4th quarter valued at about $109,000. Finally, AlphaQuest LLC lifted its position in Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock valued at $112,000 after acquiring an additional 1,559 shares in the last quarter. Institutional investors own 89.08% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Citigroup increased their price objective on shares of Timken from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. 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 report on Wednesday, April 2nd. DA Davidson raised their price target on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Loop Capital cut their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 price objective (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Timken presently has a consensus rating of "Hold" and a consensus price target of $78.50.
Check Out Our Latest Stock Analysis on TKR
Timken Trading Down 0.9%
Shares of TKR stock traded down $0.67 during mid-day trading on Tuesday, reaching $72.45. The stock had a trading volume of 774,174 shares, compared to its average volume of 567,513. The stock's 50-day moving average price is $67.48 and its two-hundred day moving average price is $73.44. The Timken Company has a 52-week low of $56.20 and a 52-week high of $91.97. The firm has a market capitalization of $5.07 billion, a PE ratio of 14.52, a price-to-earnings-growth 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.
Timken (NYSE:TKR - Get Free Report) last released 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 firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. Timken's revenue was down 4.2% compared to the same quarter last year. Equities analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.
Timken Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be paid a $0.35 dividend. This is a boost from Timken's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, May 13th. Timken's dividend payout ratio (DPR) is presently 30.17%.
About Timken
(
Free Report)
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.
Further Reading
Before you consider Timken, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Timken wasn't on the list.
While Timken currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
