National Bank of Canada FI Invests $335,000 in The Timken Company (NYSE:TKR)

National Bank of Canada FI purchased a new position in The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,700 shares of the industrial products company's stock, valued at approximately $335,000.

Several other hedge funds have also modified their holdings of TKR. Vanguard Group Inc. lifted its holdings in Timken by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock worth $461,461,000 after buying an additional 26,973 shares during the last quarter. American Century Companies Inc. boosted its holdings in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after purchasing an additional 320,354 shares in the last quarter. State Street Corp raised its holdings in 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 purchasing an additional 66,208 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Timken by 0.6% during the 3rd 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Timken by 418.4% in the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock valued at $62,959,000 after buying an additional 711,979 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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Timken Price Performance

Shares of Timken stock traded down $1.01 during trading on Wednesday, reaching $61.04. The company's stock had a trading volume of 55,386 shares, compared to its average volume of 550,187. The Timken Company has a 12-month low of $56.20 and a 12-month high of $94.71. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $73.79 and a 200-day moving average price of $76.46. The company has a market capitalization of $4.27 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, sell-side analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 2.23%. Timken's dividend payout ratio is presently 27.25%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TKR. Evercore ISI boosted their price target on shares of Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Morgan Stanley upped their target price on Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Citigroup cut their price target on Timken from $95.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered their target price on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Timken has a consensus rating of "Moderate Buy" and a consensus target price of $87.45.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief financial officer now directly owns 90,541 shares of the company's stock, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.70% of the stock is owned by company insiders.

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.