AlphaQuest LLC Increases Stock Position in The Timken Company (NYSE:TKR)

AlphaQuest LLC lifted its holdings in shares of The Timken Company (NYSE:TKR) by 25,983.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,565 shares of the industrial products company’s stock after buying an additional 1,559 shares during the quarter. AlphaQuest LLC’s holdings in Timken were worth $112,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TKR. State Street Corp increased its holdings in Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after acquiring an additional 66,208 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in Timken by 34.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after acquiring an additional 434,800 shares during the period. Geode Capital Management LLC increased its holdings in Timken by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock worth $90,477,000 after acquiring an additional 5,970 shares during the period. Victory Capital Management Inc. increased its holdings in Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after acquiring an additional 711,979 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Timken by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company’s stock worth $55,928,000 after acquiring an additional 30,411 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Trading Down 0.8 %

NYSE:TKR opened at $74.56 on Wednesday. The company has a 50-day moving average price of $78.13 and a 200-day moving average price of $78.57. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Equities analysts predict that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken’s dividend payout ratio is 27.25%.

Wall Street Analyst Weigh In

TKR has been the topic of a number of research analyst reports. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Morgan Stanley upped their price objective on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Citigroup cut their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI upped their price objective on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.70.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

About Timken

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.