Cerity Partners LLC Purchases New Shares in The Timken Company (NYSE:TKR)

Cerity Partners LLC purchased a new stake in shares of The Timken Company (NYSE:TKR) during the 4th quarter, Holdings Channel reports. The fund purchased 2,979 shares of the industrial products company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TKR. Treasurer of the State of North Carolina grew its position in Timken by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock valued at $2,552,000 after acquiring an additional 161 shares during the last quarter. Portside Wealth Group LLC grew its position in Timken by 6.6% in the 3rd quarter. Portside Wealth Group LLC now owns 3,006 shares of the industrial products company’s stock valued at $224,000 after acquiring an additional 186 shares during the last quarter. Arizona State Retirement System grew its position in Timken by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock valued at $1,363,000 after acquiring an additional 194 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Timken by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,537 shares of the industrial products company’s stock valued at $2,097,000 after acquiring an additional 262 shares during the last quarter. Finally, Assetmark Inc. grew its position in Timken by 1.8% in the 3rd quarter. Assetmark Inc. now owns 16,128 shares of the industrial products company’s stock valued at $1,185,000 after acquiring an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TKR. The Goldman Sachs Group upped their price objective on Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. StockNews.com downgraded Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Morgan Stanley began coverage on Timken in a research report on Monday, January 8th. They set an “equal weight” rating and a $74.00 price target on the stock. Oppenheimer reissued an “outperform” rating and set a $100.00 price target (up previously from $97.00) on shares of Timken in a research report on Thursday, March 21st. Finally, Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Timken currently has a consensus rating of “Hold” and an average price target of $85.90.

Timken Price Performance

Shares of TKR stock opened at $84.98 on Monday. The stock’s 50-day moving average is $85.33 and its 200 day moving average is $79.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 0.96. The Timken Company has a 1-year low of $65.71 and a 1-year high of $95.08. The company has a market cap of $5.98 billion, a P/E ratio of 15.56, a PEG ratio of 1.18 and a beta of 1.54.

Timken (NYSE:TKR) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. Timken had a return on equity of 19.57% and a net margin of 8.26%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business posted $1.22 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Research analysts predict that The Timken Company will post 6.02 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, February 16th. Timken’s payout ratio is 24.18%.

Timken Company 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.