Paloma Partners Management Co lifted its holdings in Timken Co (NYSE:TKR) by 68.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,928 shares of the industrial products company’s stock after acquiring an additional 16,207 shares during the period. Paloma Partners Management Co’s holdings in Timken were worth $1,961,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Timken by 3.3% in the fourth quarter. BlackRock Inc. now owns 5,734,858 shares of the industrial products company’s stock worth $281,869,000 after acquiring an additional 183,777 shares during the period. Boston Partners boosted its stake in Timken by 3.8% during the fourth quarter. Boston Partners now owns 2,405,305 shares of the industrial products company’s stock valued at $118,221,000 after buying an additional 88,955 shares during the last quarter. Earnest Partners LLC boosted its stake in Timken by 1.3% during the third quarter. Earnest Partners LLC now owns 1,995,646 shares of the industrial products company’s stock valued at $96,889,000 after buying an additional 25,770 shares during the last quarter. Anchor Bolt Capital LP boosted its stake in Timken by 171.8% during the fourth quarter. Anchor Bolt Capital LP now owns 1,156,766 shares of the industrial products company’s stock valued at $56,855,000 after buying an additional 731,141 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Timken by 116.9% during the fourth quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock valued at $46,477,000 after buying an additional 509,673 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on TKR. Stifel Nicolaus dropped their price target on Timken from $53.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, February 8th. Zacks Investment Research raised Timken from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, February 6th. Jefferies Group raised Timken from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, Longbow Research raised Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $52.25.
In other Timken news, Director Jacqueline F. Woods sold 3,350 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $45.12, for a total transaction of $151,152.00. Following the transaction, the director now directly owns 15,878 shares in the company, valued at approximately $716,415.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard G. Kyle sold 3,084 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.74, for a total value of $144,146.16. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.
Shares of Timken Co (NYSE TKR) opened at $44.65 on Thursday. The stock has a market capitalization of $3,559.25, a P/E ratio of 17.44, a PEG ratio of 1.21 and a beta of 1.55. Timken Co has a one year low of $41.78 and a one year high of $55.65. The company has a quick ratio of 1.13, a current ratio of 2.23 and a debt-to-equity ratio of 0.58.
Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. Timken had a return on equity of 14.55% and a net margin of 6.77%. The firm had revenue of $778.00 million for the quarter, compared to the consensus estimate of $767.98 million. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. sell-side analysts predict that Timken Co will post 3.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.08 annualized dividend and a dividend yield of 2.42%. Timken’s payout ratio is 42.02%.
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The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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