Westwood Holdings Group Inc. Increases Stock Position in The Timken Company (NYSE:TKR)

Westwood Holdings Group Inc. raised its holdings in The Timken Company (NYSE:TKR - Free Report) by 68.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 279,916 shares of the industrial products company's stock after purchasing an additional 113,779 shares during the quarter. Westwood Holdings Group Inc. owned 0.40% of Timken worth $19,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Timken by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock valued at $461,461,000 after purchasing an additional 26,973 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Timken by 11.3% during the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock worth $225,436,000 after acquiring an additional 320,354 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Timken by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company's stock worth $159,403,000 after acquiring an additional 124,676 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Timken by 0.3% during the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company's stock worth $92,433,000 after acquiring an additional 3,594 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Timken by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company's stock worth $91,711,000 after acquiring an additional 63,485 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Price Performance

Shares of Timken stock traded down $0.83 during trading on Friday, hitting $68.48. 375,851 shares of the company were exchanged, compared to its average volume of 569,847. The firm has a 50 day moving average price of $67.14 and a 200 day moving average price of $73.25. 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 stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.51 and a beta of 1.30. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $90.49.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results 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 business 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were issued a $0.35 dividend. The ex-dividend date was Tuesday, May 13th. This is an increase from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 2.04%. Timken's payout ratio is 30.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TKR shares. Citigroup boosted their price target on Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley decreased their price target on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Loop Capital decreased their price target on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. DA Davidson boosted their price target on Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Oppenheimer cut their price objective on Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Seven investment 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, Timken currently has a consensus 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.