Adage Capital Partners GP L.L.C. Boosts Stock Position in The Timken Company (NYSE:TKR)

Adage Capital Partners GP L.L.C. grew its position in The Timken Company (NYSE:TKR - Free Report) by 138.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 240,664 shares of the industrial products company's stock after purchasing an additional 139,840 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.34% of Timken worth $17,176,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Timken by 418.4% during 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 during the last quarter. Norges Bank acquired a new stake in Timken during the fourth quarter worth about $42,748,000. American Century Companies Inc. grew its holdings in Timken by 11.3% during the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock worth $225,436,000 after acquiring an additional 320,354 shares during the period. Royce & Associates LP raised its position in Timken by 108.9% during the fourth quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company's stock valued at $28,398,000 after acquiring an additional 207,439 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Timken in the fourth quarter valued at approximately $14,460,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Trading Up 0.1 %

Shares of TKR stock opened at $65.03 on Friday. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $94.71. 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 stock's fifty day moving average is $70.55 and its two-hundred day moving average is $75.31. The firm has a market capitalization of $4.55 billion, a P/E ratio of 13.03, a PEG ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR - Get Free Report) last posted 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 net margin of 7.71% and a return on equity of 13.93%. Research analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 2.09%. Timken's payout ratio is 27.25%.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business's stock in a transaction dated 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. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TKR has been the subject of several recent research reports. Citigroup cut their target price on shares of Timken from $95.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Morgan Stanley decreased their price objective on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Evercore ISI raised their target price on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group cut their price target on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Loop Capital lowered their price target on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $81.91.

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.

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