The Timken Company (NYSE:TKR) Holdings Lifted by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its holdings in The Timken Company (NYSE:TKR) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,623 shares of the industrial products company’s stock after acquiring an additional 911 shares during the period. Concurrent Investment Advisors LLC’s holdings in Timken were worth $754,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Timken during the fourth quarter worth approximately $56,995,000. Fiduciary Management Inc. WI raised its stake in shares of Timken by 94.7% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after purchasing an additional 551,097 shares during the period. Westwood Holdings Group Inc. increased its position in shares of Timken by 6,368.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 193,790 shares of the industrial products company’s stock worth $15,532,000 after purchasing an additional 190,794 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Timken by 15.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock worth $105,247,000 after purchasing an additional 178,870 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Timken in the 4th quarter valued at about $12,398,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Timken

In other news, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the transaction, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,006 shares of company stock valued at $5,269,636. 8.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TKR. KeyCorp upped their target price on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Stifel Nicolaus raised their price objective on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Oppenheimer reissued an “outperform” rating and set a $100.00 target price (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. Raymond James assumed coverage on shares of Timken in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Loop Capital upped their price objective on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $87.91.

Timken Trading Up 1.3 %

NYSE:TKR traded up $1.08 during trading hours on Monday, hitting $84.45. 361,410 shares of the company were exchanged, compared to its average volume of 475,619. The company has a fifty day simple moving average of $84.81 and a 200 day simple moving average of $83.97. The Timken Company has a one year low of $65.71 and a one year high of $94.71. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.46. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm earned $2.09 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. Sell-side analysts expect that The Timken Company will post 6.2 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.61%. This is a boost from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio is 25.90%.

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.