Lighthouse Investment Partners LLC Buys New Position in The Timken Company (NYSE:TKR)

Lighthouse Investment Partners LLC acquired a new stake in shares of The Timken Company (NYSE:TKR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 22,500 shares of the industrial products company's stock, valued at approximately $1,606,000.

A number of other hedge funds have also recently modified their holdings of the business. Barclays PLC grew its stake in Timken by 221.6% in the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after purchasing an additional 59,716 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Timken by 0.5% in the third quarter. Franklin Resources Inc. now owns 41,373 shares of the industrial products company's stock worth $3,502,000 after acquiring an additional 222 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Timken by 15.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,684 shares of the industrial products company's stock worth $477,000 after purchasing an additional 885 shares in the last quarter. Park Avenue Securities LLC lifted its position in Timken by 13.6% during the 4th quarter. Park Avenue Securities LLC now owns 3,093 shares of the industrial products company's stock worth $221,000 after acquiring an additional 371 shares during the period. Finally, Sheets Smith Wealth Management lifted its stake in Timken by 3.4% during the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock valued at $418,000 after acquiring an additional 190 shares during the period. Institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TKR. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Citigroup raised their price target on shares of Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley cut their price objective on Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Oppenheimer dropped their target price on Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $80.20.

Timken Price Performance

Shares of TKR traded up $1.36 during mid-day trading on Friday, hitting $73.85. The company's stock had a trading volume of 616,409 shares, compared to its average volume of 565,015. The Timken Company has a 1-year low of $56.20 and a 1-year high of $92.34. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The firm has a 50-day simple moving average of $67.49 and a 200 day simple moving average of $73.66. The firm has a market capitalization of $5.17 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.51 and a beta of 1.30.

Timken (NYSE:TKR - Get Free Report) last announced 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 7.71% and a return on equity of 13.93%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business earned $1.77 EPS. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. Analysts predict that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. This is a boost from Timken's previous quarterly dividend of $0.34. Timken's payout ratio is presently 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.