The Timken Company (NYSE:TKR) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its stake in The Timken Company (NYSE:TKR) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,084 shares of the industrial products company’s stock after acquiring an additional 1,206 shares during the period. Ameriprise Financial Inc. owned 0.14% of Timken worth $6,929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Timken by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company’s stock worth $461,461,000 after buying an additional 26,973 shares during the period. American Century Companies Inc. raised its stake in Timken by 11.3% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in Timken by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company’s stock valued at $159,403,000 after acquiring an additional 124,676 shares in the last quarter. Earnest Partners LLC raised its stake in Timken by 0.3% during the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company’s stock valued at $92,433,000 after acquiring an additional 3,594 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Timken by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company’s stock valued at $91,711,000 after acquiring an additional 63,485 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TKR has been the topic of several recent analyst reports. Loop Capital cut their target price on Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. DA Davidson lifted their target price on Timken from $66.00 to $71.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Citigroup lifted their target price on Timken from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Evercore ISI cut their target price on Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Oppenheimer cut their target price on Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $78.50.

Timken Stock Performance

Shares of Timken stock opened at $69.23 on Friday. The company has a market capitalization of $4.84 billion, a PE ratio of 13.87, a PEG ratio of 1.51 and a beta of 1.30. The Timken Company has a 12 month low of $56.20 and a 12 month high of $90.94. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $67.26 and its 200 day simple moving average is $73.32.

Timken (NYSE:TKR) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. Timken’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.77 EPS. On average, research analysts predict that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.35 per share. This is an increase from Timken’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, May 13th. Timken’s payout ratio is currently 30.17%.

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.