Timken Company (The) (NYSE:TKR) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lowered its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 21.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,900 shares of the industrial products company's stock after selling 6,700 shares during the quarter. Skylands Capital LLC's holdings in Timken were worth $1,718,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in Timken by 79.4% in the fourth quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock valued at $1,915,000 after purchasing an additional 11,876 shares during the period. Raymond James Financial Inc. purchased a new stake in Timken in the fourth quarter valued at $14,460,000. State of Alaska Department of Revenue raised its position in Timken by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock valued at $2,523,000 after purchasing an additional 190 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Timken in the fourth quarter valued at $574,000. Finally, Quantbot Technologies LP raised its holdings in shares of Timken by 114.2% in the 4th quarter. Quantbot Technologies LP now owns 29,567 shares of the industrial products company's stock valued at $2,110,000 after buying an additional 15,763 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Oppenheimer cut 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. The Goldman Sachs Group cut their price objective on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group reiterated a "hold" rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Evercore ISI cut their price objective on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Finally, Citigroup boosted their price objective on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $79.00.

Timken Stock Up 5.0%

TKR traded up $3.62 on Tuesday, hitting $76.17. 429,370 shares of the company were exchanged, compared to its average volume of 674,597. Timken Company has a twelve month low of $56.20 and a twelve month high of $90.49. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a current ratio of 3.15, a quick ratio of 1.71 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $69.73 and a two-hundred day moving average price of $72.32.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.03). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The company's revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.77 earnings per share. On average, equities analysts predict that Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.35 per share. This is a boost from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Tuesday, May 13th. Timken's dividend payout ratio is currently 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.