Envestnet Asset Management Inc. Has $12.18 Million Holdings in Timken Company (The) (NYSE:TKR)

Envestnet Asset Management Inc. decreased its position in shares of Timken Company (The) (NYSE:TKR) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 169,450 shares of the industrial products company’s stock after selling 8,653 shares during the quarter. Envestnet Asset Management Inc. owned about 0.24% of Timken worth $12,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TKR. Vanguard Group Inc. increased its stake in shares of Timken by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company’s stock valued at $461,461,000 after acquiring an additional 26,973 shares in the last quarter. American Century Companies Inc. grew 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 worth $225,436,000 after purchasing an additional 320,354 shares during the period. Dimensional Fund Advisors LP increased its stake in Timken by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company’s stock valued at $159,403,000 after purchasing an additional 124,676 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Timken by 0.3% during the fourth quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company’s stock valued at $92,433,000 after purchasing an additional 3,594 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in shares of 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 worth $91,711,000 after purchasing an additional 63,485 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Trading Up 0.2%

Timken stock opened at $79.28 on Friday. The stock has a market cap of $5.55 billion, a P/E ratio of 17.09, a PEG ratio of 1.88 and a beta of 1.27. Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $90.49. The firm’s fifty day moving average price is $73.04 and its 200-day moving average price is $72.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share 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 analysts’ expectations of $1.13 billion. Timken had a net margin of 7.24% and a return on equity of 12.62%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 EPS. Equities research analysts forecast that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were issued a $0.35 dividend. This is a boost from Timken’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.77%. Timken’s dividend payout ratio (DPR) is currently 30.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Loop Capital reduced their price objective on shares of Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Oppenheimer cut their target price on Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Citigroup increased their price target on Timken from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. Evercore ISI cut their price objective on shares of Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 target price (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.00.

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.