The Timken Company (NYSE:TKR) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in The Timken Company (NYSE:TKR - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 717,278 shares of the industrial products company's stock after buying an additional 50,519 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.02% of Timken worth $51,192,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its stake in Timken by 8,327.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,854 shares of the industrial products company's stock worth $156,000 after acquiring an additional 1,832 shares in the last quarter. US Bancorp DE lifted its stake in Timken by 9.6% during the 3rd quarter. US Bancorp DE now owns 3,550 shares of the industrial products company's stock worth $299,000 after acquiring an additional 310 shares in the last quarter. Stephens Inc. AR lifted its stake in Timken by 11.7% during the 3rd quarter. Stephens Inc. AR now owns 9,349 shares of the industrial products company's stock worth $788,000 after acquiring an additional 977 shares in the last quarter. Van ECK Associates Corp lifted its stake in Timken by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 36,861 shares of the industrial products company's stock worth $3,100,000 after acquiring an additional 10,532 shares in the last quarter. Finally, Forum Financial Management LP acquired a new position in Timken during the 3rd quarter worth about $204,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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Timken Stock Performance

NYSE:TKR traded up $0.49 during mid-day trading on Friday, reaching $77.02. 506,377 shares of the stock were exchanged, compared to its average volume of 666,454. The company has a 50 day simple moving average of $77.78 and a 200-day simple moving average of $79.07. The stock has a market capitalization of $5.39 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.51 and a beta of 1.37. 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 Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71.

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

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.77%. Timken's dividend payout ratio (DPR) is currently 27.25%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TKR. KeyCorp reissued a "sector weight" rating on shares of Timken in a research note on Friday, November 22nd. Citigroup reduced their price target on Timken from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Bank of America raised Timken from an "underperform" rating to a "neutral" rating and increased their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Morgan Stanley increased their price target on Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Finally, Evercore ISI increased their price target on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Timken currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.70.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 8.70% of the company's stock.

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.