Mariner LLC Trims Position in The Timken Company (NYSE:TKR)

Mariner LLC reduced its holdings in The Timken Company (NYSE:TKR) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,564 shares of the industrial products company’s stock after selling 273 shares during the period. Mariner LLC’s holdings in Timken were worth $683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. grew its position in Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after purchasing an additional 711,979 shares during the period. Norges Bank purchased a new position in Timken during the fourth quarter valued at approximately $42,748,000. American Century Companies Inc. lifted its holdings in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after acquiring an additional 320,354 shares during the period. Royce & Associates LP increased its holdings in shares of Timken by 108.9% during the 4th quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company’s stock valued at $28,398,000 after purchasing an additional 207,439 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Timken during the fourth quarter worth approximately $14,460,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TKR shares. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. The Goldman Sachs Group cut their target price on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Citigroup decreased their price objective on Timken from $95.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Loop Capital dropped their price target on shares of Timken from $85.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley lowered their price objective on shares of Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Timken currently has an average rating of “Hold” and a consensus price target of $81.91.

Timken Price Performance

Shares of NYSE:TKR opened at $65.23 on Wednesday. The company has a market cap of $4.57 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.51 and a beta of 1.28. The business has a fifty day simple moving average of $69.82 and a 200-day simple moving average of $75.06. The Timken Company has a 52 week low of $56.20 and a 52 week high of $94.71. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Equities research analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.08%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.70% of the stock is currently owned by corporate 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.