Two Sigma Investments LP Trims Stake in The Timken Company (NYSE:TKR)

Two Sigma Investments LP decreased its position in The Timken Company (NYSE:TKR - Free Report) by 20.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,492 shares of the industrial products company's stock after selling 33,473 shares during the period. Two Sigma Investments LP owned approximately 0.18% of Timken worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in shares of Timken by 79.4% in the fourth quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock worth $1,915,000 after purchasing an additional 11,876 shares during the last quarter. Barclays PLC increased its holdings in Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after buying an additional 59,716 shares during the period. Raymond James Financial Inc. purchased a new position in Timken during the 4th quarter worth approximately $14,460,000. Janney Montgomery Scott LLC lifted its stake in Timken by 25.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock valued at $7,644,000 after acquiring an additional 22,003 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Timken in the 4th quarter valued at $574,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Wall Street Analyst Weigh In

TKR has been the subject of a number of research reports. Evercore ISI decreased their target price on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. DA Davidson boosted their price objective on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Loop Capital reduced their price target on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Finally, Oppenheimer lowered their price objective on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $78.50.

Timken Price Performance

Shares of TKR stock traded down $0.94 during trading hours on Friday, hitting $68.76. 59,902 shares of the company's stock were exchanged, compared to its average volume of 567,321. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $90.49. The firm has a market cap of $4.81 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.51 and a beta of 1.30. 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 $66.70 and a two-hundred day moving average of $73.08.

Timken (NYSE:TKR - Get Free Report) last released its 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 firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The business's revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.77 EPS. Sell-side analysts forecast that The Timken Company will post 5.62 EPS for the current 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.04%. This is a positive change from Timken's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. Timken's payout ratio is presently 30.17%.

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.