31,084 Shares in The Timken Company (NYSE:TKR) Acquired by Numerai GP LLC

Numerai GP LLC acquired a new stake in The Timken Company (NYSE:TKR) during the fourth quarter, HoldingsChannel reports. The fund acquired 31,084 shares of the industrial products company’s stock, valued at approximately $2,218,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of Timken in the fourth quarter valued at about $29,000. Amundi raised its stake in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new stake in Timken in the 4th quarter valued at about $66,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Timken during the 4th quarter worth approximately $109,000. Finally, AlphaQuest LLC increased its holdings in shares of Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 1,559 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley cut their price target on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group reiterated 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. Oppenheimer decreased their price target on Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Evercore ISI upped their price objective on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, DA Davidson increased their price objective on shares of Timken from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.20.

Timken Stock Performance

Timken stock opened at $73.31 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.13 billion, a PE ratio of 14.69, a P/E/G ratio of 1.51 and a beta of 1.30. The Timken Company has a 12-month low of $56.20 and a 12-month high of $93.66. The business’s 50-day moving average price is $67.64 and its two-hundred day moving average price is $73.83.

Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 earnings per share. As a group, analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be given a $0.35 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.91%. This is a positive change from Timken’s previous quarterly dividend of $0.34. Timken’s dividend payout ratio (DPR) is currently 30.17%.

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.