Brandes Investment Partners LP Acquires New Stake in The Timken Company (NYSE:TKR)

Brandes Investment Partners LP bought a new stake in The Timken Company (NYSE:TKR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 65,066 shares of the industrial products company's stock, valued at approximately $4,644,000. Brandes Investment Partners LP owned 0.09% of Timken at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. M&T Bank Corp grew its stake in Timken by 0.6% in the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company's stock valued at $2,064,000 after acquiring an additional 144 shares during the period. First Horizon Advisors Inc. grew its stake in Timken by 8.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company's stock valued at $141,000 after acquiring an additional 158 shares during the period. Amundi grew its stake in Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 174 shares during the period. WESCAP Management Group Inc. grew its stake in Timken by 1.1% in the third quarter. WESCAP Management Group Inc. now owns 17,433 shares of the industrial products company's stock valued at $1,469,000 after acquiring an additional 186 shares during the period. Finally, Sheets Smith Wealth Management grew its stake in Timken by 3.4% in the fourth quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock valued at $418,000 after acquiring an additional 190 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.70% of the company's stock.

Analyst Ratings Changes

TKR has been the topic of a number of research reports. Evercore ISI boosted their price target on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. KeyCorp restated a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Morgan Stanley boosted 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. Finally, Citigroup cut their price target on Timken from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $92.70.

Timken Stock Performance

NYSE TKR traded down $0.75 during trading on Thursday, reaching $74.70. 428,376 shares of the company's stock were exchanged, compared to its average volume of 495,891. The Timken Company has a fifty-two week low of $69.35 and a fifty-two week high of $94.71. The business has a 50 day moving average price of $78.16 and a 200-day moving average price of $78.55. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The stock has a market capitalization of $5.23 billion, a P/E ratio of 14.97, a PEG ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR - Get Free Report) last issued 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%. Sell-side analysts forecast that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, February 25th. Timken's payout ratio is presently 27.25%.

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.