Sei Investments Co. Purchases 153,698 Shares of The Timken Company (NYSE:TKR)

Sei Investments Co. increased its position in shares of The Timken Company (NYSE:TKR) by 33.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 616,130 shares of the industrial products company’s stock after purchasing an additional 153,698 shares during the period. Sei Investments Co. owned about 0.88% of Timken worth $43,973,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Fairway Wealth LLC bought a new stake in Timken in the 4th quarter valued at $29,000. Amundi increased its stake in Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 174 shares during the period. Brooklyn Investment Group acquired a new position in Timken in the third quarter worth about $74,000. Kohmann Bosshard Financial Services LLC bought a new position in Timken during the fourth quarter worth about $109,000. Finally, AlphaQuest LLC boosted its holdings in Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 1,559 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TKR. Evercore ISI increased their target price on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and increased their target price for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price target on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and an average target price of $92.70.

Insider Activity

In related 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 value of $407,500.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.70% of the company’s stock.

Timken Stock Performance

Shares of Timken stock opened at $76.30 on Tuesday. The firm has a 50 day simple moving average of $78.25 and a 200 day simple moving average of $78.41. The Timken Company has a fifty-two week low of $69.35 and a fifty-two week high of $94.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The firm has a market cap of $5.34 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping 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%. Sell-side analysts predict that The Timken Company will post 5.62 earnings per share for the current fiscal 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 given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 1.78%. Timken’s 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.