NEOS Investment Management LLC Grows Position in The Timken Company (NYSE:TKR)

NEOS Investment Management LLC lifted its position in shares of The Timken Company (NYSE:TKR) by 178.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,105 shares of the industrial products company’s stock after purchasing an additional 55,843 shares during the quarter. NEOS Investment Management LLC owned 0.12% of Timken worth $6,217,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after acquiring an additional 711,979 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after purchasing an additional 434,800 shares during the period. American Century Companies Inc. boosted its position in Timken by 11.3% during 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 in the last quarter. Royce & Associates LP grew its holdings in Timken by 108.9% in the fourth quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company’s stock valued at $28,398,000 after purchasing an additional 207,439 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Timken in the fourth quarter valued at approximately $14,460,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Timken

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. 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 report on Friday, December 6th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Evercore ISI raised their target price on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

Timken Stock Performance

NYSE TKR opened at $73.68 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a fifty-two week low of $69.35 and a fifty-two week high of $94.71. The stock’s fifty day moving average is $78.17 and its two-hundred day moving average is $78.35. The firm has a market capitalization of $5.16 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last issued 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%. On average, research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 1.85%. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Timken 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.