AGF Management Ltd. Grows Stock Position in The Timken Company (NYSE:TKR)

AGF Management Ltd. boosted its holdings in The Timken Company (NYSE:TKR) by 17.7% in the 4th quarter, HoldingsChannel reports. The fund owned 521,576 shares of the industrial products company’s stock after acquiring an additional 78,498 shares during the quarter. AGF Management Ltd.’s holdings in Timken were worth $37,225,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Fairway Wealth LLC acquired a new position in shares of Timken in the 4th quarter valued at approximately $29,000. Channing Capital Management LLC lifted its holdings in shares of Timken by 9.5% in the fourth quarter. Channing Capital Management LLC now owns 148,112 shares of the industrial products company’s stock valued at $10,571,000 after buying an additional 12,812 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Timken during the fourth quarter valued at $212,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Timken by 14.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,803 shares of the industrial products company’s stock worth $1,342,000 after acquiring an additional 2,382 shares in the last quarter. Finally, AlphaQuest LLC increased its position in Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 1,559 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

Shares of TKR stock opened at $74.72 on Wednesday. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.51 and a beta of 1.37. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The business’s 50-day moving average price is $77.93 and its 200-day moving average price is $78.92. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

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

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 1.82%. Timken’s dividend payout ratio is currently 27.25%.

Insider Transactions at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TKR shares. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $95.00 in a research note on Friday, December 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Evercore ISI raised their target price on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

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.