Paloma Partners Management Co grew its holdings in The Timken Co (NYSE:TKR) by 68.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,928 shares of the industrial products company’s stock after purchasing an additional 16,207 shares during the quarter. Paloma Partners Management Co owned approximately 0.05% of The Timken worth $1,961,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cerebellum GP LLC bought a new position in shares of The Timken in the 4th quarter valued at about $128,000. Contravisory Investment Management Inc. bought a new position in shares of The Timken in the 4th quarter valued at about $148,000. Assetmark Inc. boosted its stake in shares of The Timken by 976.8% in the 4th quarter. Assetmark Inc. now owns 3,015 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 2,735 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of The Timken in the 4th quarter valued at about $201,000. Finally, Creative Planning bought a new position in shares of The Timken in the 4th quarter valued at about $210,000. 79.48% of the stock is currently owned by institutional investors.
The Timken stock opened at $44.80 on Friday. The Timken Co has a fifty-two week low of $41.85 and a fifty-two week high of $55.65. The company has a market cap of $3,489.15, a P/E ratio of 17.03, a PEG ratio of 1.10 and a beta of 1.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.13 and a current ratio of 2.23.
The Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $778.00 million for the quarter, compared to the consensus estimate of $767.98 million. The Timken had a net margin of 6.77% and a return on equity of 14.55%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. analysts expect that The Timken Co will post 3.53 EPS for the current fiscal year.
Several research analysts recently weighed in on TKR shares. Longbow Research raised shares of The Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Jefferies Group raised shares of The Timken from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Zacks Investment Research raised shares of The Timken from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, January 23rd. Finally, Stifel Nicolaus reduced their price objective on shares of The Timken from $53.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The Timken presently has a consensus rating of “Hold” and an average target price of $51.00.
In other The Timken news, Director Jacqueline F. Woods sold 3,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $45.12, for a total transaction of $151,152.00. Following the sale, the director now directly owns 15,878 shares in the company, valued at approximately $716,415.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard G. Kyle sold 3,084 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.74, for a total transaction of $144,146.16. The disclosure for this sale can be found here. Company insiders own 11.15% of the company’s stock.
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About The Timken
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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