Mutual of America Capital Management LLC Sells 866 Shares of Timken Company (The) (NYSE:TKR)

Mutual of America Capital Management LLC lessened its stake in Timken Company (The) (NYSE:TKR) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,839 shares of the industrial products company’s stock after selling 866 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Timken were worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Amundi grew its stake in shares of Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares during the period. Parvin Asset Management LLC bought a new position in shares of Timken during the 4th quarter valued at approximately $66,000. UMB Bank n.a. grew its stake in shares of Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 800 shares during the period. GAMMA Investing LLC grew its stake in shares of Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 847 shares during the period. Finally, Alpine Bank Wealth Management bought a new position in shares of Timken during the 1st quarter valued at approximately $108,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TKR shares. Morgan Stanley decreased their price target on Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group reissued a “hold” rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Citigroup increased their price target on Timken from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Finally, Evercore ISI dropped their price target on Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Timken has an average rating of “Hold” and an average target price of $79.00.

Timken Price Performance

NYSE:TKR opened at $79.28 on Friday. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $5.55 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.88 and a beta of 1.27. Timken Company has a 52 week low of $56.20 and a 52 week high of $90.49. The stock’s fifty day moving average is $73.04 and its two-hundred day moving average is $72.82.

Timken (NYSE:TKR) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 earnings per share. Equities analysts expect that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Timken’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, May 13th. Timken’s dividend payout ratio is 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.