The Timken Company (NYSE:TKR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in shares of The Timken Company (NYSE:TKRFree Report) by 6.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 528,511 shares of the industrial products company’s stock after selling 34,396 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.75% of Timken worth $42,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Timken in the fourth quarter valued at about $12,398,000. WCM Investment Management LLC boosted its stake in shares of Timken by 8.7% during the fourth quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company’s stock valued at $16,443,000 after acquiring an additional 16,322 shares during the last quarter. Duality Advisers LP raised its stake in Timken by 226.3% in the 4th quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company’s stock valued at $2,227,000 after purchasing an additional 19,274 shares during the last quarter. Foundry Partners LLC lifted its holdings in Timken by 5.6% in the 4th quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company’s stock valued at $6,999,000 after purchasing an additional 4,598 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Timken by 64.5% during the 3rd quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company’s stock worth $883,000 after purchasing an additional 4,712 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Price Performance

Timken stock opened at $84.80 on Thursday. 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 firm has a market capitalization of $5.97 billion, a P/E ratio of 16.15, a PEG ratio of 1.78 and a beta of 1.50. The firm has a fifty day moving average of $87.73 and a 200-day moving average of $82.89. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08.

Timken (NYSE:TKRGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 EPS. As a group, analysts predict that The Timken Company will post 6.19 EPS for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.60%. This is a positive change from Timken’s previous quarterly dividend of $0.33. Timken’s payout ratio is currently 25.90%.

Insider Buying and Selling at Timken

In other news, EVP Christopher A. Coughlin sold 29,006 shares of Timken stock in a transaction dated Friday, May 3rd. The stock was 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 directly owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Timken 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 transaction of $897,600.00. Following the transaction, the chief financial officer now directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the transaction, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The disclosure for this sale can be found here. Insiders sold a total of 59,006 shares of company stock valued at $5,269,636 in the last ninety days. Insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

TKR has been the topic of a number of analyst reports. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Loop Capital lifted their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. KeyCorp upped their price objective on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Oppenheimer reissued an “outperform” rating and issued a $100.00 target price (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. Finally, Stifel Nicolaus upped their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.91.

View Our Latest Analysis on TKR

Timken Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Timken Company (NYSE:TKRFree Report).

Institutional Ownership by Quarter for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.