18,000 Shares in The Timken Company (NYSE:TKR) Acquired by Ulysses Management LLC

Ulysses Management LLC bought a new stake in shares of The Timken Company (NYSE:TKR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,000 shares of the industrial products company's stock, valued at approximately $1,285,000.

A number of other institutional investors also recently modified their holdings of TKR. Voloridge Investment Management LLC increased its position in Timken by 193.8% in the 4th quarter. Voloridge Investment Management LLC now owns 364,498 shares of the industrial products company's stock worth $26,014,000 after purchasing an additional 240,417 shares during the last quarter. Westwood Holdings Group Inc. increased its position in Timken by 68.5% in the 4th quarter. Westwood Holdings Group Inc. now owns 279,916 shares of the industrial products company's stock worth $19,978,000 after purchasing an additional 113,779 shares during the last quarter. State of Wyoming increased its position in Timken by 63.1% in the 4th quarter. State of Wyoming now owns 4,498 shares of the industrial products company's stock worth $321,000 after purchasing an additional 1,741 shares during the last quarter. Tema Etfs LLC acquired a new position in Timken in the 4th quarter worth about $6,217,000. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Timken by 96.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 280,099 shares of the industrial products company's stock valued at $19,991,000 after acquiring an additional 137,706 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TKR. The Goldman Sachs Group lowered 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. Citigroup raised their target price on Timken from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $70.00 target price (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. DA Davidson raised their target price on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Loop Capital lowered their target price on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $78.50.

Timken Price Performance

Shares of Timken stock traded down $0.83 during midday trading on Friday, hitting $68.48. 375,851 shares of the company were exchanged, compared to its average volume of 569,847. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The firm has a market cap of $4.79 billion, a P/E ratio of 13.72, a PEG ratio of 1.51 and a beta of 1.30. The Timken Company has a 52 week low of $56.20 and a 52 week high of $90.49. The firm has a 50 day simple moving average of $67.14 and a 200-day simple moving average of $73.25.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.77 EPS. Research analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, May 13th. This is a boost from Timken's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.04%. Timken's payout ratio is 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.