The Timken Company (NYSE:TKR) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in The Timken Company (NYSE:TKR) by 0.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 176,328 shares of the industrial products company’s stock after buying an additional 215 shares during the period. Retirement Systems of Alabama owned about 0.25% of Timken worth $15,416,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in Timken by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock worth $134,233,000 after buying an additional 131,253 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Timken by 15.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock worth $105,247,000 after acquiring an additional 178,870 shares during the last quarter. Fiduciary Management Inc. WI increased its holdings in shares of Timken by 94.7% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after acquiring an additional 551,097 shares during the period. Norges Bank acquired a new stake in shares of Timken in the 4th quarter worth about $56,995,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Timken by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 625,592 shares of the industrial products company’s stock valued at $50,141,000 after purchasing an additional 11,057 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TKR shares. Loop Capital lifted their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. KeyCorp boosted their price target on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Raymond James started coverage on shares of Timken in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Oppenheimer reissued an “outperform” rating and set a $100.00 target price (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. Finally, Stifel Nicolaus raised their price objective on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $87.91.

Insider Activity

In related news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the sale, the chief executive officer now directly owns 366,799 shares in the company, valued at $32,678,122.91. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Richard G. Kyle sold 20,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the sale, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christopher A. Coughlin sold 29,006 shares of Timken stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the transaction, the executive vice president now owns 84,995 shares in the company, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,006 shares of company stock worth $5,269,636. 8.70% of the stock is owned by corporate insiders.

Timken Trading Down 1.4 %

Shares of NYSE TKR traded down $1.10 during mid-day trading on Friday, hitting $78.81. 937,358 shares of the company traded hands, compared to its average volume of 477,261. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.69 and a beta of 1.46. The business has a 50 day moving average of $85.70 and a two-hundred day moving average of $83.89.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company posted $2.09 earnings per share. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that The Timken Company will post 6.2 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is 25.90%.

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.