The Timken Company (NYSE:TKR) Shares Bought by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. grew its stake in shares of The Timken Company (NYSE:TKR) by 68.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 279,916 shares of the industrial products company’s stock after purchasing an additional 113,779 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Timken were worth $19,978,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after purchasing an additional 59,716 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Timken by 13.6% in the 4th quarter. Park Avenue Securities LLC now owns 3,093 shares of the industrial products company’s stock worth $221,000 after buying an additional 371 shares in the last quarter. Sheets Smith Wealth Management lifted its holdings in Timken by 3.4% in the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock worth $418,000 after buying an additional 190 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Timken by 25.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company’s stock worth $7,644,000 after acquiring an additional 22,003 shares in the last quarter. Finally, Inspire Investing LLC raised its position in shares of Timken by 15.2% in the 4th quarter. Inspire Investing LLC now owns 5,647 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 746 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Stock Down 0.7%

Shares of Timken stock opened at $73.20 on Tuesday. The Timken Company has a twelve month low of $56.20 and a twelve month high of $92.34. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The business’s 50 day simple moving average is $67.49 and its 200-day simple moving average is $73.45. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.51 and a beta of 1.30.

Timken (NYSE:TKR) last issued 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). Timken had a return on equity of 13.93% and a net margin of 7.71%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business earned $1.77 earnings per share. Timken’s quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on TKR. Evercore ISI cut their price target on shares of Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Citigroup upped their price objective on Timken from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Jefferies Financial Group reissued a “hold” rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, Morgan Stanley dropped their price target on Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Timken presently has a consensus rating of “Hold” and a consensus target price of $78.50.

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.