Victory Capital Management Inc. Has $132.37 Million Position in Timken Company (The) (NYSE:TKR)

Victory Capital Management Inc. boosted its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 108.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,841,828 shares of the industrial products company's stock after purchasing an additional 959,672 shares during the quarter. Victory Capital Management Inc. owned about 2.63% of Timken worth $132,372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amundi lifted its position in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 174 shares during the period. Parvin Asset Management LLC bought a new position in Timken during the fourth quarter valued at approximately $66,000. UMB Bank n.a. lifted its position in Timken by 400.0% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 800 shares during the period. GAMMA Investing LLC lifted its position in Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares during the period. Finally, Alpine Bank Wealth Management bought a new position in Timken during the first quarter valued at approximately $108,000. Institutional investors own 89.08% of the company's stock.

Timken Stock Up 0.2%

Shares of Timken stock traded up $0.15 on Friday, reaching $79.28. The stock had a trading volume of 634,982 shares, compared to its average volume of 588,395. The company has a 50 day moving average price of $73.04 and a 200 day moving average price of $72.82. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68. Timken Company has a 1 year low of $56.20 and a 1 year high of $90.49. The stock has a market capitalization of $5.55 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.89 and a beta of 1.27.

Timken (NYSE:TKR - Get Free Report) last released 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). Timken had a net margin of 7.24% and a return on equity of 12.62%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the company earned $1.77 earnings per share. The firm's revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.35 per share. This is a positive change from Timken's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. Timken's dividend payout ratio is presently 30.17%.

Analysts Set New Price Targets

TKR has been the topic of several recent research reports. Loop Capital decreased their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group reduced their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Citigroup increased their price objective on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Evercore ISI reduced their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Finally, Oppenheimer reduced their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $79.00.

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.