Lighthouse Investment Partners LLC Takes $1.61 Million Position in The Timken Company (NYSE:TKR)

Lighthouse Investment Partners LLC purchased a new position in The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,500 shares of the industrial products company's stock, valued at approximately $1,606,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company's stock worth $141,000 after acquiring an additional 158 shares during the last quarter. Amundi lifted its stake in shares of Timken by 25.8% in the 4th 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 last quarter. Ethic Inc. increased its position in shares of Timken by 2.8% during the 4th quarter. Ethic Inc. now owns 6,882 shares of the industrial products company's stock valued at $491,000 after purchasing an additional 188 shares during the last quarter. Sheets Smith Wealth Management raised its stake in shares of Timken by 3.4% in the fourth 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. Finally, Principal Securities Inc. raised its position in Timken by 7.8% in the 4th quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company's stock worth $204,000 after purchasing an additional 207 shares during the period. Institutional investors own 89.08% of the company's stock.

Timken Stock Performance

Shares of NYSE TKR traded down $0.54 during mid-day trading on Monday, hitting $73.15. The stock had a trading volume of 85,382 shares, compared to its average volume of 564,228. The firm has a market cap of $5.12 billion, a PE ratio of 14.64, a PEG ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The company has a 50 day moving average of $67.49 and a two-hundred day moving average of $73.52. The Timken Company has a twelve month low of $56.20 and a twelve month high of $92.34.

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 7.71% and a return on equity of 13.93%. 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. Research analysts predict that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.91%. This is a positive change from Timken's previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, May 13th. Timken's payout ratio is 30.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Citigroup boosted their price objective on Timken from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley lowered their price objective on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. DA Davidson boosted their price objective on shares of Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Oppenheimer reduced their target price on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI cut their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday. Seven equities 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 company currently has an average rating of "Hold" and a consensus target price of $78.50.

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.