Connor Clark & Lunn Investment Management Ltd. Makes New $574,000 Investment in The Timken Company (NYSE:TKR)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in The Timken Company (NYSE:TKR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,042 shares of the industrial products company's stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also bought and sold shares of TKR. Victory Capital Management Inc. raised its position 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. Hotchkis & Wiley Capital Management LLC increased its stake 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 acquiring an additional 434,800 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Timken during the fourth quarter valued at approximately $14,460,000. Verition Fund Management LLC lifted its stake in Timken by 3,179.1% during the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company's stock worth $16,340,000 after purchasing an additional 187,946 shares during the last quarter. Finally, AGF Management Ltd. boosted its holdings in shares of Timken by 17.7% in the 4th quarter. AGF Management Ltd. now owns 521,576 shares of the industrial products company's stock valued at $37,225,000 after purchasing an additional 78,498 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

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Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the firm's stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.70% of the company's stock.

Timken Stock Performance

Shares of NYSE TKR traded up $0.01 during midday trading on Tuesday, reaching $76.27. The company's stock had a trading volume of 861,870 shares, compared to its average volume of 499,029. 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 $5.34 billion, a P/E ratio of 15.28, a PEG ratio of 1.51 and a beta of 1.37. The firm has a 50 day moving average price of $78.25 and a 200-day moving average price of $78.40. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71.

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, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, equities analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.