Angeles Investment Advisors LLC Purchases Shares of 3,495 The Timken Company (NYSE:TKR)

Angeles Investment Advisors LLC acquired a new stake in shares of The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,495 shares of the industrial products company's stock, valued at approximately $249,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Timken by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock valued at $461,461,000 after buying an additional 26,973 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 acquiring an additional 320,354 shares in the last quarter. State Street Corp increased its stake in shares of 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 acquiring an additional 66,208 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock valued at $143,376,000 after purchasing an additional 434,800 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Timken by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company's stock valued at $90,477,000 after purchasing an additional 5,970 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of the company'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 completion of the transaction, the chief financial officer now owns 90,541 shares of the company's stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.70% of the stock is currently owned by company insiders.

Timken Price Performance

Shares of NYSE:TKR traded up $0.01 on Tuesday, hitting $76.27. The company had a trading volume of 861,870 shares, compared to its average volume of 499,029. The company has a market cap of $5.34 billion, a PE ratio of 15.28, a PEG ratio of 1.51 and a beta of 1.37. The business has a 50 day moving average of $78.25 and a 200 day moving average of $78.40. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share 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%. As a group, equities analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, February 25th. Timken's dividend payout ratio is currently 27.25%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Evercore ISI raised their target price on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Timken from a "hold" rating to a "buy" rating and raised their price objective for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Finally, Citigroup dropped their target price on shares of Timken from $90.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $92.70.

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.