Polar Asset Management Partners Inc. Reduces Position in The Timken Company (NYSE:TKR)

Polar Asset Management Partners Inc. decreased its position in shares of The Timken Company (NYSE:TKR - Free Report) by 75.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,600 shares of the industrial products company's stock after selling 49,800 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Timken were worth $1,185,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TKR. First Horizon Advisors Inc. raised its stake in shares of Timken by 8.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company's stock valued at $141,000 after buying an additional 158 shares during the last quarter. Amundi grew its holdings in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after acquiring an additional 174 shares during the period. Ethic Inc. raised its position in Timken by 2.8% during the fourth quarter. Ethic Inc. now owns 6,882 shares of the industrial products company's stock valued at $491,000 after acquiring an additional 188 shares in the last quarter. Sheets Smith Wealth Management lifted its holdings in Timken by 3.4% in the fourth quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock valued at $418,000 after acquiring an additional 190 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Timken by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 2,986 shares of the industrial products company's stock valued at $213,000 after acquiring an additional 204 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Ratings Changes

TKR has been the subject of several recent research reports. DA Davidson lifted their target price on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Oppenheimer cut their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Evercore ISI decreased their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday. The Goldman Sachs Group lowered their target price on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $78.50.

Timken Price Performance

Shares of TKR stock traded down $0.96 on Friday, reaching $68.36. 70,042 shares of the company were exchanged, compared to its average volume of 568,752. The Timken Company has a 1 year low of $56.20 and a 1 year high of $90.94. 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 business has a 50-day moving average price of $67.26 and a 200 day moving average price of $73.32. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.51 and a beta of 1.30.

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

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.05%. This is a positive change from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio (DPR) is presently 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.