The Timken Company (NYSE:TKR) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. cut its stake in shares of The Timken Company (NYSE:TKR) by 75.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,600 shares of the industrial products company’s stock after selling 49,800 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Timken were worth $1,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in Timken by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 2,986 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 204 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Timken in the fourth quarter worth $604,000. Numerai GP LLC acquired a new stake in shares of Timken in the fourth quarter valued at about $2,218,000. Millennium Management LLC lifted its position in shares of Timken by 1,421.1% during the 4th quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company’s stock valued at $32,737,000 after acquiring an additional 428,545 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in Timken during the fourth quarter worth $1,606,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Price Performance

TKR stock opened at $73.85 on Friday. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30. 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 Timken Company has a 52-week low of $56.20 and a 52-week high of $92.34. The stock’s fifty day simple moving average is $67.49 and its 200-day simple moving average is $73.59.

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

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Tuesday, May 13th will be given a $0.35 dividend. The ex-dividend date is Tuesday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. Timken’s dividend payout ratio (DPR) is currently 30.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TKR shares. The Goldman Sachs Group dropped their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Jefferies Financial Group reissued a “hold” rating and set a $70.00 price objective (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Oppenheimer lowered their target price on Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Citigroup raised their price target on Timken from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $80.20.

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.