The Timken Company (NYSE:TKR) Shares Sold by LSV Asset Management

LSV Asset Management reduced its holdings in The Timken Company (NYSE:TKR - Free Report) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 842,192 shares of the industrial products company's stock after selling 109,296 shares during the quarter. LSV Asset Management owned 1.19% of Timken worth $67,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Provident Investment Management Inc. bought a new position in Timken in the third quarter valued at $23,408,000. Stansberry Asset Management LLC bought a new stake in Timken in the 3rd quarter worth approximately $16,422,000. Atlantic Investment Management Inc. boosted its stake in Timken by 69.4% in the third quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company's stock worth $38,222,000 after buying an additional 213,000 shares in the last quarter. Invesco Ltd. grew its position in Timken by 31.9% during the third quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company's stock valued at $50,015,000 after acquiring an additional 164,421 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Timken during the fourth quarter valued at approximately $12,398,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Trading Up 0.4 %

TKR stock traded up $0.32 during trading on Friday, reaching $89.49. The company had a trading volume of 408,980 shares, compared to its average volume of 516,739. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 0.96. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08. The business has a 50 day moving average of $86.12 and a 200 day moving average of $80.00. The company has a market cap of $6.30 billion, a P/E ratio of 17.05, a PEG ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company earned $2.09 EPS. The business's revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, May 13th. This is a boost from Timken's previous quarterly dividend of $0.33. Timken's payout ratio is 25.14%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TKR. Evercore ISI lowered shares of Timken from an "outperform" rating to an "in-line" rating and set a $84.00 target price on the stock. in a report on Tuesday, February 20th. Oppenheimer restated an "outperform" rating and set a $100.00 target price (up from $97.00) on shares of Timken in a report on Thursday, March 21st. StockNews.com cut Timken from a "buy" rating to a "hold" rating in a research note on Wednesday, February 21st. DA Davidson started coverage on Timken in a research note on Tuesday, January 23rd. They set a "buy" rating and a $92.00 price objective for the company. Finally, Loop Capital lifted their target price on shares of Timken from $78.00 to $87.00 and gave the stock a "hold" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Timken has an average rating of "Hold" and an average target price of $87.09.

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.