Russell Investments Group Ltd. Purchases 10,712 Shares of The Timken Company (NYSE:TKR)

Russell Investments Group Ltd. raised its position in shares of The Timken Company (NYSE:TKR) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,153 shares of the industrial products company’s stock after acquiring an additional 10,712 shares during the period. Russell Investments Group Ltd.’s holdings in Timken were worth $8,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Timken during the fourth quarter valued at $35,000. Anchor Investment Management LLC bought a new position in shares of Timken in the 4th quarter valued at about $58,000. Amica Retiree Medical Trust purchased a new position in Timken in the third quarter worth about $75,000. Ramirez Asset Management Inc. bought a new stake in Timken during the third quarter worth approximately $81,000. Finally, Quent Capital LLC raised its position in Timken by 50.4% during the fourth quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 341 shares during the period. 89.08% of the stock is currently owned by institutional investors.

Timken Price Performance

TKR opened at $89.71 on Tuesday. The firm has a market capitalization of $6.32 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02. The business’s 50-day moving average is $86.28 and its two-hundred day moving average is $80.20. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. Research analysts anticipate that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. Timken’s dividend payout ratio is presently 25.14%.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of recent research reports. Stifel Nicolaus lifted their target price on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. KeyCorp lifted their target price on Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Morgan Stanley began coverage on Timken in a research note on Monday, January 8th. They set an “equal weight” rating and a $74.00 price target on the stock. Loop Capital upped their price objective on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, DA Davidson began coverage on shares of Timken in a research report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has a consensus rating of “Hold” and an average price target of $87.09.

Insider Activity

In related news, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the transaction, the chief executive officer now directly owns 366,799 shares in the company, valued at approximately $32,678,122.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the sale, the chief executive officer now directly owns 366,799 shares in the company, valued at $32,678,122.91. The disclosure for this sale can be found here. Company insiders own 8.70% of the company’s stock.

About Timken

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.