The Timken Company (NYSE:TKR) Shares Purchased by Foundry Partners LLC

Foundry Partners LLC increased its holdings in The Timken Company (NYSE:TKR) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,711 shares of the industrial products company’s stock after buying an additional 3,197 shares during the quarter. Foundry Partners LLC owned about 0.08% of Timken worth $3,762,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TKR. Victory Capital Management Inc. increased its stake in shares of Timken by 418.4% in the fourth 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. Norges Bank acquired a new stake in Timken during the 4th quarter worth about $42,748,000. American Century Companies Inc. raised its stake in shares of Timken by 11.3% during the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after buying an additional 320,354 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Timken by 108.9% in the 4th quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company’s stock valued at $28,398,000 after buying an additional 207,439 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Timken in the fourth quarter worth about $14,460,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

Timken Stock Performance

Shares of NYSE:TKR opened at $59.88 on Friday. The business’s 50 day moving average price is $77.08 and its 200-day moving average price is $77.86. The Timken Company has a 1 year low of $58.26 and a 1 year high of $94.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The firm has a market capitalization of $4.19 billion, a PE ratio of 12.00, a P/E/G ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, equities research analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio is currently 27.25%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price target (down from $90.00) on shares of Timken in a report on Wednesday. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Morgan Stanley lifted their price objective on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Evercore ISI increased their target price on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group cut their price target on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Timken presently has an average rating of “Moderate Buy” and a consensus target price of $88.82.

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.