Silvercrest Asset Management Group LLC raised its position in The Timken Company (NYSE:TKR - Free Report) by 96.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.40% of Timken worth $19,991,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of TKR. Sterling Capital Management LLC raised its position in shares of Timken by 79.4% during the 4th quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock worth $1,915,000 after acquiring an additional 11,876 shares in the last quarter. Barclays PLC boosted its holdings in Timken by 221.6% in the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock valued at $7,307,000 after purchasing an additional 59,716 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Timken in the fourth quarter valued at approximately $14,460,000. Janney Montgomery Scott LLC boosted its holdings in Timken by 25.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock valued at $7,644,000 after purchasing an additional 22,003 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Timken in the fourth quarter valued at approximately $574,000. 89.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Citigroup upped their price target on Timken from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, May 8th. DA Davidson boosted their price objective on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reiterated a "hold" rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price objective on Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.50.
Read Our Latest Stock Analysis on Timken
Timken Trading Down 0.9%
NYSE:TKR traded down $0.67 during mid-day trading on Tuesday, reaching $72.45. The company's stock had a trading volume of 774,174 shares, compared to its average volume of 567,513. The company's fifty day simple moving average is $67.49 and its two-hundred day simple moving average is $73.45. 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 Timken Company has a twelve month low of $56.20 and a twelve month high of $91.97. The stock has a market cap of $5.07 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.51 and a beta of 1.30.
Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The business 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%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.77 EPS. On average, equities analysts predict that The Timken Company will post 5.62 EPS for the current year.
Timken Increases Dividend
The business also recently declared 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. The ex-dividend date is Tuesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.93%. Timken's dividend payout ratio (DPR) is presently 30.17%.
About Timken
(
Free Report)
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.
Featured Articles
Before you consider Timken, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Timken wasn't on the list.
While Timken currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
