Nisa Investment Advisors LLC Has $815,000 Stock Holdings in Timken Company (The) (NYSE:TKR)

Nisa Investment Advisors LLC lessened its position in Timken Company (The) (NYSE:TKR) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,333 shares of the industrial products company’s stock after selling 350 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Timken were worth $815,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi grew its stake in Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new position in Timken in the fourth quarter valued at approximately $66,000. UMB Bank n.a. grew its stake in Timken by 400.0% in the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 800 shares in the last quarter. GAMMA Investing LLC grew its stake in Timken by 282.3% in the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 847 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Timken in the first quarter valued at approximately $108,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analysts Set New Price Targets

TKR has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Evercore ISI reduced their target price on Timken from $102.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, May 19th. Loop Capital reduced their target price on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. DA Davidson lifted their target price on Timken from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group reduced their target price on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $79.00.

Timken Trading Down 1.2%

Shares of Timken stock opened at $76.35 on Wednesday. The firm has a 50-day moving average of $72.40 and a 200-day moving average of $72.67. The stock has a market cap of $5.34 billion, a PE ratio of 16.45, a PEG ratio of 1.84 and a beta of 1.27. Timken Company has a 52-week low of $56.20 and a 52-week high of $90.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15.

Timken (NYSE:TKR) last announced 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 during the quarter, compared to the consensus estimate of $1.13 billion. Timken had a net margin of 7.24% and a return on equity of 12.62%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 EPS. As a group, sell-side analysts forecast that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Tuesday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.34. Timken’s payout ratio is presently 30.17%.

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.