Amalgamated Bank Trims Stake in The Timken Company (NYSE:TKR)

Amalgamated Bank trimmed its position in The Timken Company (NYSE:TKR) by 10.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,057 shares of the industrial products company’s stock after selling 5,022 shares during the quarter. Amalgamated Bank’s holdings in Timken were worth $3,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Timken by 0.5% in the fourth quarter. Victory Capital Management Inc. now owns 223,946 shares of the industrial products company’s stock valued at $17,949,000 after acquiring an additional 1,174 shares in the last quarter. Amica Mutual Insurance Co. raised its holdings in shares of Timken by 100.0% in the 4th quarter. Amica Mutual Insurance Co. now owns 16,264 shares of the industrial products company’s stock valued at $1,304,000 after purchasing an additional 8,132 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Timken in the 4th quarter worth approximately $1,284,000. Retirement Systems of Alabama boosted its stake in shares of Timken by 0.9% during the fourth quarter. Retirement Systems of Alabama now owns 176,113 shares of the industrial products company’s stock valued at $14,115,000 after purchasing an additional 1,612 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Timken by 11.1% during the fourth quarter. Russell Investments Group Ltd. now owns 107,153 shares of the industrial products company’s stock valued at $8,588,000 after buying an additional 10,712 shares during the period. Institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. DA Davidson initiated coverage on Timken in a research report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 target price on the stock. Loop Capital lifted their target price on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Oppenheimer reissued an “outperform” rating and set a $100.00 price target (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. StockNews.com downgraded shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, KeyCorp increased their target price on shares of Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Timken currently has an average rating of “Hold” and an average target price of $87.09.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 10,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the sale, the chief financial officer now owns 105,541 shares in the company, valued at $9,473,360.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Philip D. Fracassa sold 10,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the sale, the chief financial officer now owns 105,541 shares in the company, valued at $9,473,360.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher A. Coughlin sold 29,006 shares of Timken stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,006 shares of company stock valued at $5,269,636. 8.70% of the stock is owned by insiders.

Timken Trading Up 1.6 %

NYSE:TKR opened at $91.29 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $86.68 and a 200-day simple moving average of $80.49. The Timken Company has a 12 month low of $65.71 and a 12 month high of $95.08. The company has a market capitalization of $6.43 billion, a P/E ratio of 17.39, a PEG ratio of 1.21 and a beta of 1.51.

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

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio is 25.14%.

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.