Phocas Financial Corp. Buys New Holdings in The Timken Company (NYSE:TKR)

Phocas Financial Corp. bought a new position in shares of The Timken Company (NYSE:TKR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,704 shares of the industrial products company’s stock, valued at approximately $550,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Timken by 11.1% during the third quarter. Creative Planning now owns 10,138 shares of the industrial products company’s stock worth $855,000 after acquiring an additional 1,015 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Timken by 20.0% during the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 166 shares during the period. International Assets Investment Management LLC lifted its position in shares of Timken by 8,327.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,854 shares of the industrial products company’s stock worth $156,000 after buying an additional 1,832 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Timken by 1.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 35,163 shares of the industrial products company’s stock valued at $2,963,000 after buying an additional 500 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Timken by 6.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 27,707 shares of the industrial products company’s stock valued at $2,221,000 after buying an additional 1,682 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TKR. Oppenheimer cut their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Finally, DA Davidson lowered their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Timken presently has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Timken Stock Performance

TKR stock opened at $79.56 on Wednesday. The firm has a 50 day simple moving average of $76.81 and a 200 day simple moving average of $79.30. The Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71. The stock has a market cap of $5.57 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.51 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 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.