Occudo Quantitative Strategies LP Trims Stock Holdings in The Timken Company (NYSE:TKR)

Occudo Quantitative Strategies LP lessened its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 85.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,845 shares of the industrial products company's stock after selling 23,025 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Timken were worth $274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC grew its stake in shares of Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after acquiring an additional 59,716 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Timken by 15.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,684 shares of the industrial products company's stock valued at $477,000 after purchasing an additional 885 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Timken by 13.6% during the 4th quarter. Park Avenue Securities LLC now owns 3,093 shares of the industrial products company's stock valued at $221,000 after purchasing an additional 371 shares during the last quarter. Sheets Smith Wealth Management raised its stake in shares of Timken by 3.4% during the 4th 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 period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Timken by 25.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock worth $7,644,000 after buying an additional 22,003 shares during the last quarter. Institutional investors own 89.08% of the company's stock.

Timken Stock Down 0.9%

Shares of TKR traded down $0.67 during trading hours on Tuesday, hitting $72.45. The company had a trading volume of 774,174 shares, compared to its average volume of 566,588. The Timken Company has a 52-week low of $56.20 and a 52-week high of $92.34. The firm has a fifty day moving average price of $67.49 and a 200-day moving average price of $73.45. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 14.52, a P/E/G 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.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The business's revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.77 earnings per share. On average, equities research analysts forecast that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.35 per share. 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 1.93%. The ex-dividend date is Tuesday, May 13th. Timken's payout ratio is presently 30.17%.

Analyst Ratings Changes

Several research firms recently weighed in on TKR. The Goldman Sachs Group reduced their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. DA Davidson increased their price target on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and increased their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. 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 report on Wednesday, April 2nd. Finally, Evercore ISI reduced their price target on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.