Tema Etfs LLC Invests $6.22 Million in The Timken Company (NYSE:TKR)

Tema Etfs LLC acquired a new stake in The Timken Company (NYSE:TKR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 holdings, making the stock its 5th biggest position. Tema Etfs LLC owned 0.12% of Timken as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in Timken during the fourth quarter worth about $29,000. Amundi lifted its holdings in Timken by 25.8% during the 4th 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 purchased a new position in Timken in the 4th quarter valued at approximately $66,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Timken during the fourth quarter worth $109,000. Finally, AlphaQuest LLC boosted its holdings in Timken by 25,983.3% in the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock valued at $112,000 after purchasing an additional 1,559 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday. Loop Capital lowered their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Morgan Stanley dropped their target price on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 price target (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Finally, Citigroup increased their price objective on Timken from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $78.50.

Timken Stock Performance

Shares of NYSE TKR traded down $0.91 during trading hours on Friday, reaching $68.40. The stock had a trading volume of 85,430 shares, compared to its average volume of 568,805. The firm has a 50-day moving average of $67.26 and a 200-day moving average of $73.32. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 13.70, a PEG 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. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $90.94.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. Timken's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 EPS. Equities research analysts predict that The Timken Company will post 5.62 earnings per share for the current 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. The ex-dividend date is Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 2.05%. Timken's payout ratio is currently 30.17%.

Timken Company 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.