Polymer Capital Management US LLC Buys New Position in The Timken Company (NYSE:TKR)

Polymer Capital Management US LLC acquired a new position in shares of The Timken Company (NYSE:TKR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,800 shares of the industrial products company’s stock, valued at approximately $699,000.

Several other hedge funds also recently modified their holdings of the stock. Vestcor Inc bought a new stake in Timken in the third quarter valued at $560,000. TT International Asset Management LTD raised its stake in Timken by 1,075.2% during the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock worth $3,310,000 after buying an additional 35,932 shares during the period. Barclays PLC boosted its holdings in Timken by 221.6% in the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after acquiring an additional 59,716 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Timken by 29.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock valued at $4,327,000 after acquiring an additional 13,697 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Timken during the fourth quarter valued at approximately $14,460,000. Institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TKR. Citigroup reduced their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating and set a $70.00 target price (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Evercore ISI raised their price target on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group decreased their price objective on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, Bank of America raised 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. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.82.

Timken Stock Down 5.6 %

Timken stock opened at $59.88 on Monday. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.51 and a beta of 1.28. The firm has a 50 day simple moving average of $77.08 and a 200 day simple moving average of $77.81. The Timken Company has a 1-year low of $58.26 and a 1-year high of $94.71. 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 released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. On average, analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The company 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. This represents a $1.36 annualized dividend and a yield of 2.27%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio 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.