Mackenzie Financial Corp Has $573,000 Holdings in Timken Company (The) (NYSE:TKR)

Mackenzie Financial Corp grew its holdings in shares of Timken Company (The) (NYSE:TKR) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,975 shares of the industrial products company’s stock after acquiring an additional 835 shares during the quarter. Mackenzie Financial Corp’s holdings in Timken were worth $573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TKR. Dimensional Fund Advisors LP boosted its position 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 buying an additional 124,676 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Timken by 108.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company’s stock valued at $132,372,000 after acquiring an additional 959,672 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of 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. Fuller & Thaler Asset Management Inc. grew its position 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 worth $91,711,000 after acquiring an additional 63,485 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Timken by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 787,391 shares of the industrial products company’s stock worth $56,590,000 after purchasing an additional 3,831 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. DA Davidson boosted their price target on Timken from $71.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Oppenheimer cut their target price on shares of Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Evercore ISI decreased their price target on shares of Timken from $102.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, May 19th. Citigroup raised their price target on shares of Timken from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 24th. Finally, Morgan Stanley decreased their price objective on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $79.90.

Timken Price Performance

TKR stock opened at $73.52 on Thursday. The company has a quick ratio of 1.72, a current ratio of 3.13 and a debt-to-equity ratio of 0.65. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.64 and a beta of 1.30. The company’s fifty day simple moving average is $74.73 and its 200 day simple moving average is $73.16. Timken Company has a 12-month low of $56.20 and a 12-month high of $87.52.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.08. Timken had a return on equity of 11.78% and a net margin of 6.86%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $1.63 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts expect that Timken Company will post 5.62 earnings per share for the current year.

About Timken

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.