Oak Thistle LLC Buys Shares of 7,314 The Timken Company (NYSE:TKR)

Oak Thistle LLC bought a new stake in The Timken Company (NYSE:TKRFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,314 shares of the industrial products company’s stock, valued at approximately $586,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. raised its holdings in shares of Timken by 4,756.1% during the first quarter. Macquarie Group Ltd. now owns 854,673 shares of the industrial products company’s stock valued at $69,844,000 after buying an additional 837,073 shares during the last quarter. Norges Bank bought a new stake in Timken during the fourth quarter worth approximately $43,603,000. Invesco Ltd. raised its holdings in Timken by 54.9% during the first quarter. Invesco Ltd. now owns 1,588,490 shares of the industrial products company’s stock worth $96,421,000 after purchasing an additional 562,930 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Timken by 520.3% during the fourth quarter. Victory Capital Management Inc. now owns 648,455 shares of the industrial products company’s stock worth $45,826,000 after purchasing an additional 543,922 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Timken by 165.7% during the fourth quarter. Millennium Management LLC now owns 774,368 shares of the industrial products company’s stock worth $54,725,000 after purchasing an additional 482,926 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Trading Up 1.1 %

NYSE TKR opened at $87.39 on Thursday. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.79. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.20 and a beta of 1.54. The firm’s 50 day moving average price is $84.07 and its two-hundred day moving average price is $77.90.

Timken (NYSE:TKRGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company posted $1.22 EPS. Timken’s revenue was up .9% on a year-over-year basis. Equities analysts anticipate that The Timken Company will post 6.01 EPS for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s payout ratio is presently 24.18%.

Analysts Set New Price Targets

Several brokerages recently commented on TKR. Jefferies Financial Group cut Timken from a “buy” rating to a “hold” rating and dropped their target price for the stock from $105.00 to $85.00 in a report on Wednesday, December 20th. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. DA Davidson started coverage on shares of Timken in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price target on the stock. Morgan Stanley started coverage on shares of Timken in a research report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Timken presently has an average rating of “Hold” and a consensus target price of $85.90.

Check Out Our Latest Report on Timken

Timken Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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