Price T Rowe Associates Inc. MD Buys 10,280 Shares of The Timken Company (NYSE:TKR)

Price T Rowe Associates Inc. MD increased its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 12.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,951 shares of the industrial products company's stock after acquiring an additional 10,280 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.13% of Timken worth $6,635,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Dark Forest Capital Management LP acquired a new stake in shares of Timken during the 4th quarter worth about $250,000. Southernsun Asset Management LLC raised its holdings in Timken by 4.2% during the fourth quarter. Southernsun Asset Management LLC now owns 520,324 shares of the industrial products company's stock worth $37,136,000 after purchasing an additional 21,158 shares in the last quarter. Stifel Financial Corp boosted its stake in Timken by 0.9% in the fourth quarter. Stifel Financial Corp now owns 61,434 shares of the industrial products company's stock valued at $4,385,000 after acquiring an additional 566 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Timken by 83.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,868 shares of the industrial products company's stock valued at $276,000 after acquiring an additional 1,761 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Timken by 9.0% in the fourth quarter. MetLife Investment Management LLC now owns 35,982 shares of the industrial products company's stock valued at $2,568,000 after purchasing an additional 2,983 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Stock Down 0.2 %

Shares of NYSE:TKR traded down $0.11 on Friday, reaching $68.32. The company had a trading volume of 159,449 shares, compared to its average volume of 557,664. The stock has a market capitalization of $4.78 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.51 and a beta of 1.30. The Timken Company has a twelve month low of $56.20 and a twelve month high of $93.66. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $67.89 and a 200 day moving average price of $74.17.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The company's revenue was down 4.2% on a year-over-year basis. During the same period last year, the company earned $1.77 EPS. On average, equities analysts expect that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.05%. This is a boost from Timken's previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, May 13th. Timken's dividend payout ratio is currently 30.17%.

Analysts Set New Price Targets

Several brokerages have weighed in on TKR. Loop Capital lowered their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Evercore ISI raised their price target on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. DA Davidson lifted their target price on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a report on Monday. Oppenheimer reduced their target price on Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Morgan Stanley reduced their target price on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $80.20.

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.