Occudo Quantitative Strategies LP Sells 23,025 Shares of The Timken Company (NYSE:TKR)

Occudo Quantitative Strategies LP lessened its holdings in The Timken Company (NYSE:TKR) by 85.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,845 shares of the industrial products company’s stock after selling 23,025 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Timken were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in shares of Timken during the 4th quarter worth $29,000. Amundi grew its position in shares of Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after buying an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Timken during the 4th quarter worth $66,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Timken during the 4th quarter worth $109,000. Finally, AlphaQuest LLC grew its position in shares of Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after buying an additional 1,559 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. DA Davidson raised their price objective on Timken from $66.00 to $71.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup raised their price objective on Timken from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their price objective on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Morgan Stanley dropped their price objective 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Timken has a consensus rating of “Hold” and an average price target of $80.20.

Timken Trading Up 1.9%

Timken stock opened at $73.85 on Friday. The stock has a 50-day moving average of $67.49 and a two-hundred day moving average of $73.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a one year low of $56.20 and a one year high of $92.34. The stock has a market cap of $5.17 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.

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

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be paid 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 dividend on an annualized basis and a yield of 1.90%. Timken’s dividend payout ratio (DPR) is 30.17%.

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.