Numerai GP LLC Buys New Position in The Timken Company (NYSE:TKR)

Numerai GP LLC bought a new stake in shares of The Timken Company (NYSE:TKR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,084 shares of the industrial products company's stock, valued at approximately $2,218,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TKR. Barclays PLC lifted its position 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 buying an additional 59,716 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Timken by 0.5% during the third quarter. Franklin Resources Inc. now owns 41,373 shares of the industrial products company's stock worth $3,502,000 after purchasing an additional 222 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Timken by 15.3% during the fourth 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 during the last quarter. Park Avenue Securities LLC lifted its position in shares of Timken by 13.6% during the fourth quarter. Park Avenue Securities LLC now owns 3,093 shares of the industrial products company's stock worth $221,000 after purchasing an additional 371 shares during the last quarter. Finally, Sheets Smith Wealth Management lifted its position in shares of Timken by 3.4% during the fourth quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock worth $418,000 after purchasing an additional 190 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TKR has been the topic of several research reports. Oppenheimer cut their price target on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. DA Davidson raised their price target on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Jefferies Financial Group restated a "hold" rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and raised their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Finally, Citigroup lifted their target price on Timken from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Timken currently has an average rating of "Hold" and a consensus target price of $78.50.

Timken Trading Down 0.8%

NYSE:TKR traded down $0.59 during trading hours on Monday, hitting $73.09. The company had a trading volume of 118,834 shares, compared to its average volume of 564,300. 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 company has a 50-day moving average of $67.49 and a 200 day moving average of $73.52. The company has a market cap of $5.11 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.51 and a beta of 1.30. The Timken Company has a 1 year low of $56.20 and a 1 year high of $92.34.

Timken (NYSE:TKR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 earnings per share. Sell-side analysts expect that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The firm also recently declared 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. The ex-dividend date is 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 1.92%. Timken's dividend payout ratio is currently 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.