Silvercrest Asset Management Group LLC Grows Position in The Timken Company (NYSE:TKR)

Silvercrest Asset Management Group LLC grew its holdings in The Timken Company (NYSE:TKR - Free Report) by 96.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 280,099 shares of the industrial products company's stock after acquiring an additional 137,706 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.40% of Timken worth $19,991,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC purchased a new position in Timken in the fourth quarter valued at approximately $29,000. Amundi boosted its holdings in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after buying an additional 174 shares in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Timken in the 4th quarter valued at $66,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Timken in the 4th quarter valued at $109,000. Finally, AlphaQuest LLC raised its stake in Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock worth $112,000 after acquiring an additional 1,559 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Oppenheimer decreased their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Bank of America raised Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Evercore ISI dropped their price target on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday. Loop Capital cut their price target on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Finally, DA Davidson increased their price objective on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Timken currently has an average rating of "Hold" and an average target price of $78.50.

Timken Stock Performance

Shares of TKR stock traded down $0.47 during midday trading on Thursday, hitting $69.06. The company had a trading volume of 249,957 shares, compared to its average volume of 567,719. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The company's 50 day simple moving average is $67.38 and its 200 day simple moving average is $73.42. The Timken Company has a 52-week low of $56.20 and a 52-week high of $91.77.

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

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. Timken's 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.