Retirement Systems of Alabama Purchases 1,612 Shares of The Timken Company (NYSE:TKR)

Retirement Systems of Alabama raised its position in The Timken Company (NYSE:TKR) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 176,113 shares of the industrial products company’s stock after buying an additional 1,612 shares during the quarter. Retirement Systems of Alabama’s holdings in Timken were worth $14,115,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Provident Investment Management Inc. acquired a new position in shares of Timken during the 3rd quarter worth approximately $23,408,000. Stansberry Asset Management LLC acquired a new position in shares of Timken during the 3rd quarter worth approximately $16,422,000. Atlantic Investment Management Inc. increased its holdings in shares of Timken by 69.4% during the 3rd quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock worth $38,222,000 after acquiring an additional 213,000 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Timken by 31.9% during the 3rd quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock worth $50,015,000 after acquiring an additional 164,421 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Timken during the 4th quarter worth approximately $12,398,000. Institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of recent analyst reports. Loop Capital boosted their target price on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday. Stifel Nicolaus boosted their target price on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a research note on Tuesday, February 20th. DA Davidson started coverage on Timken in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price target for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $100.00 price target (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Timken has a consensus rating of “Hold” and an average target price of $86.73.

Timken Stock Performance

NYSE:TKR opened at $87.48 on Thursday. The stock has a fifty day moving average price of $85.62 and a 200-day moving average price of $79.72. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.22 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.87. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $95.08.

Timken (NYSE:TKR) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. As a group, equities analysts anticipate that The Timken Company will post 6.11 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.51%. Timken’s payout ratio is 25.14%.

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.