Louisiana State Employees Retirement System Buys New Holdings in The Timken Company (NYSE:TKR)

Louisiana State Employees Retirement System acquired a new stake in shares of The Timken Company (NYSE:TKR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,200 shares of the industrial products company's stock, valued at approximately $1,459,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TKR. Vanguard Group Inc. increased its position in Timken by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,450,013 shares of the industrial products company's stock valued at $380,808,000 after purchasing an additional 29,889 shares during the period. BlackRock Inc. increased its position in Timken by 2.0% during the 1st quarter. BlackRock Inc. now owns 5,773,011 shares of the industrial products company's stock valued at $350,420,000 after purchasing an additional 112,617 shares during the period. State Street Corp increased its position in Timken by 0.5% during the 1st quarter. State Street Corp now owns 1,922,811 shares of the industrial products company's stock valued at $157,132,000 after purchasing an additional 9,303 shares during the period. American Century Companies Inc. increased its position in Timken by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company's stock valued at $134,233,000 after purchasing an additional 131,253 shares during the period. Finally, Invesco Ltd. increased its position in Timken by 54.9% during the 1st quarter. Invesco Ltd. now owns 1,588,490 shares of the industrial products company's stock valued at $96,421,000 after purchasing an additional 562,930 shares during the period. Institutional investors own 89.08% of the company's stock.

Timken Stock Performance

NYSE TKR traded up $1.31 on Friday, hitting $85.50. 478,578 shares of the company's stock traded hands, compared to its average volume of 375,637. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. The Timken Company has a 1-year low of $65.71 and a 1-year high of $95.08. The firm's 50-day moving average price is $84.93 and its two-hundred day moving average price is $79.04. The firm has a market capitalization of $6.02 billion, a PE ratio of 15.66, a P/E/G ratio of 1.18 and a beta of 1.54.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the business posted $1.22 EPS. The business's quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts expect that The Timken Company will post 6.02 EPS for the current year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, February 16th. Timken's dividend payout ratio is currently 24.18%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TKR shares. StockNews.com downgraded shares of Timken from a "buy" rating to a "hold" rating in a research report on Wednesday, February 21st. Evercore ISI downgraded shares of Timken from an "outperform" rating to an "in-line" rating and set a $84.00 price objective on the stock. in a research report on Tuesday, February 20th. DA Davidson started coverage on shares of Timken in a research report on Tuesday, January 23rd. They issued a "buy" rating and a $92.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Timken from $78.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley began coverage on shares of Timken in a research report on Monday, January 8th. They issued an "equal weight" rating and a $74.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $85.90.

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.