Victory Capital Management Inc. Buys 1,174 Shares of The Timken Company (NYSE:TKR)

Victory Capital Management Inc. grew its stake in shares of The Timken Company (NYSE:TKR) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,946 shares of the industrial products company’s stock after acquiring an additional 1,174 shares during the quarter. Victory Capital Management Inc.’s holdings in Timken were worth $17,949,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TKR. GAMMA Investing LLC purchased a new stake in shares of Timken during the fourth quarter valued at approximately $35,000. Anchor Investment Management LLC purchased a new stake in Timken during the 4th quarter valued at $58,000. Amica Retiree Medical Trust purchased a new position in shares of Timken in the third quarter worth $75,000. Quent Capital LLC lifted its holdings in shares of 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 in the last quarter. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of Timken during the third quarter valued at $81,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their target price on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Stifel Nicolaus lifted their target price on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. StockNews.com cut Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Loop Capital lifted their price objective on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, KeyCorp increased their target price on Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $87.09.

Timken Stock Performance

Shares of TKR opened at $91.29 on Friday. The business has a 50-day simple moving average of $86.68 and a two-hundred day simple moving average of $80.49. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.21 and a beta of 1.51.

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

Timken Increases Dividend

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

Insider Buying and Selling at Timken

In other news, CEO Richard G. Kyle sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Timken news, CFO Philip D. Fracassa sold 10,000 shares of Timken 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 directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The disclosure for this sale can be found here. Insiders have sold a total of 59,006 shares of company stock valued at $5,269,636 over the last ninety days. 8.70% of the stock is currently owned by company insiders.

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.