GAMMA Investing LLC Purchases 82,135 Shares of The Timken Company (NYSE:TKR)

GAMMA Investing LLC increased its position in shares of The Timken Company (NYSE:TKR - Free Report) by 27,378.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,435 shares of the industrial products company's stock after buying an additional 82,135 shares during the period. GAMMA Investing LLC owned 0.12% of Timken worth $5,925,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Timken by 25.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,288 shares of the industrial products company's stock worth $520,000 after buying an additional 1,489 shares during the period. Phocas Financial Corp. bought a new stake in shares of Timken during the 4th quarter worth $3,623,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Timken during the 4th quarter worth $4,310,000. Mackenzie Financial Corp bought a new stake in shares of Timken during the 4th quarter worth $510,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Timken by 5.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 53,606 shares of the industrial products company's stock worth $3,826,000 after buying an additional 2,763 shares during the period. 89.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TKR shares. Morgan Stanley decreased their price objective on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Citigroup increased their price target on shares of Timken from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Loop Capital reduced 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. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 price target (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Finally, Evercore ISI dropped their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $78.50.

Timken Price Performance

TKR traded down $1.43 during midday trading on Friday, hitting $70.63. The company had a trading volume of 351,442 shares, compared to its average volume of 575,675. 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 company has a market capitalization of $4.94 billion, a PE ratio of 14.15, a P/E/G ratio of 1.51 and a beta of 1.28. The Timken Company has a twelve month low of $56.20 and a twelve month high of $90.49. The firm's 50-day simple moving average is $67.10 and its 200-day simple moving average is $72.81.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The company's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 EPS. Equities research analysts predict that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently announced 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 1.98%. The ex-dividend date of this dividend was Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio (DPR) is 30.17%.

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.