Wealthquest Corp Invests $814,000 in Timken Company (The) (NYSE:TKR)

Wealthquest Corp acquired a new stake in Timken Company (The) (NYSE:TKR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 11,322 shares of the industrial products company's stock, valued at approximately $814,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of Timken in the 4th quarter valued at approximately $29,000. Amundi boosted its position in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after acquiring an additional 174 shares during the last quarter. Parvin Asset Management LLC acquired a new position in Timken during the 4th quarter worth approximately $66,000. UMB Bank n.a. boosted its position in Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock worth $72,000 after acquiring an additional 800 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock worth $82,000 after acquiring an additional 847 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Performance

TKR traded down $0.71 during trading hours on Friday, reaching $73.32. The company's stock had a trading volume of 1,549,334 shares, compared to its average volume of 584,785. Timken Company has a 52 week low of $56.20 and a 52 week high of $90.49. The company's 50-day moving average is $69.48 and its 200-day moving average is $72.40. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The firm has a market cap of $5.13 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.13 billion. During the same quarter last year, the company posted $1.77 EPS. The firm's revenue was down 4.2% on a year-over-year basis. On average, equities analysts forecast that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders 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. The ex-dividend date was Tuesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.91%. Timken's dividend payout ratio (DPR) is presently 30.17%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TKR shares. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Citigroup upped their price target on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday. Loop Capital dropped their price objective on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Evercore ISI dropped their price objective on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, Oppenheimer dropped their price objective on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average 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.