Securian Asset Management Inc. Sells 139 Shares of The Timken Company (NYSE:TKR)

Securian Asset Management Inc. lowered its position in shares of The Timken Company (NYSE:TKR) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,823 shares of the industrial products company’s stock after selling 139 shares during the quarter. Securian Asset Management Inc.’s holdings in Timken were worth $344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Timken by 3.5% during the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after buying an additional 66,208 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after buying an additional 434,800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Timken by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock worth $90,477,000 after buying an additional 5,970 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after buying an additional 711,979 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Timken by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company’s stock worth $55,928,000 after buying an additional 30,411 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of a number of research reports. Evercore ISI lifted 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. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Citigroup dropped their price target on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Morgan Stanley boosted their price target on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.70.

Timken Stock Down 0.8 %

Shares of NYSE TKR opened at $74.56 on Wednesday. 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 company has a market cap of $5.22 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.51 and a beta of 1.37. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The stock has a 50-day moving average price of $78.13 and a two-hundred day moving average price of $78.57.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, analysts forecast that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is currently 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.