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

GAMMA Investing LLC grew its stake in The Timken Company (NYSE:TKR - Free Report) by 27,378.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,435 shares of the industrial products company's stock after purchasing an additional 82,135 shares during the period. GAMMA Investing LLC owned approximately 0.12% of Timken worth $5,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in Timken by 25.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,288 shares of the industrial products company's stock valued at $520,000 after acquiring an additional 1,489 shares during the period. Phocas Financial Corp. bought a new stake in shares of Timken in the 4th quarter worth about $3,623,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Timken during the 4th quarter worth about $4,310,000. Mackenzie Financial Corp bought a new position in Timken during the 4th quarter valued at about $510,000. Finally, Public Employees Retirement System of Ohio grew its stake in Timken by 5.4% during the fourth 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 last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Trading Down 1.1%

Shares of TKR traded down $0.82 during trading hours on Wednesday, reaching $72.33. The stock had a trading volume of 837,989 shares, compared to its average volume of 575,117. The company has a market cap of $5.06 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.51 and a beta of 1.28. The Timken Company has a 52 week low of $56.20 and a 52 week high of $90.49. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average of $66.59 and a 200 day moving average of $72.85.

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

Timken Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TKR shares. Oppenheimer reduced their price target 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. Jefferies Financial Group restated a "hold" rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. DA Davidson lifted their target price on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Morgan Stanley dropped 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. Finally, Citigroup raised their price target 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $78.50.

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.