The Timken Company (NYSE:TKR) Shares Acquired by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lifted its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 68.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 279,916 shares of the industrial products company's stock after acquiring an additional 113,779 shares during the period. Westwood Holdings Group Inc. owned 0.40% of Timken worth $19,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock worth $62,959,000 after acquiring an additional 711,979 shares in the last quarter. Norges Bank acquired a new position in Timken during the fourth quarter worth approximately $42,748,000. Millennium Management LLC increased its position in Timken by 1,421.1% during the fourth quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock worth $32,737,000 after buying an additional 428,545 shares during the period. American Century Companies Inc. increased its holdings in shares of Timken by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after acquiring an additional 320,354 shares during the period. Finally, Becker Capital Management Inc. acquired a new position in Timken in the fourth quarter valued at $15,550,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

TKR has been the topic of several recent research reports. DA Davidson boosted their price target on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Loop Capital dropped their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Evercore ISI dropped their target price on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday. Morgan Stanley dropped their target price on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Oppenheimer dropped their price objective on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Timken presently has a consensus rating of "Hold" and an average price target of $78.50.

Timken Price Performance

Timken stock opened at $73.20 on Tuesday. The Timken Company has a 12-month low of $56.20 and a 12-month high of $92.34. The firm's 50-day moving average is $67.49 and its two-hundred day moving average is $73.45. The stock has a market capitalization of $5.12 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

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 (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 during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The firm's quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be paid a $0.35 dividend. This is a positive change from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Tuesday, May 13th. Timken's payout ratio is currently 30.17%.

About Timken

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.

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