Neo Ivy Capital Management Makes New Investment in The Timken Company (NYSE:TKR)

Neo Ivy Capital Management bought a new stake in shares of The Timken Company (NYSE:TKR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,702 shares of the industrial products company's stock, valued at approximately $734,000.

Several other hedge funds have also made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in shares of Timken during the second quarter valued at approximately $4,363,000. American Century Companies Inc. boosted its position in Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company's stock valued at $225,750,000 after acquiring an additional 128,791 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Timken in the 3rd quarter valued at $2,863,000. Hsbc Holdings PLC raised its position in shares of Timken by 102.5% in the 2nd quarter. Hsbc Holdings PLC now owns 12,186 shares of the industrial products company's stock worth $979,000 after acquiring an additional 6,167 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Timken by 14.5% during the 3rd quarter. D.A. Davidson & CO. now owns 58,588 shares of the industrial products company's stock worth $4,938,000 after purchasing an additional 7,406 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.70% of the stock is owned by insiders.

Timken Trading Down 1.7 %

Timken stock traded down $1.32 during midday trading on Thursday, hitting $75.98. 341,279 shares of the stock were exchanged, compared to its average volume of 487,580. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock's 50-day simple moving average is $79.80 and its 200 day simple moving average is $81.58. The Timken Company has a fifty-two week low of $72.35 and a fifty-two week high of $94.71. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.13 and a beta of 1.38.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $1.55 EPS. Timken's revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that The Timken Company will post 5.61 EPS for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken's payout ratio is 28.27%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup upgraded Timken from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $90.00 in a research note on Monday. Jefferies Financial Group upgraded shares of Timken from a "hold" rating to a "buy" rating and upped their price objective for the company from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp reiterated a "sector weight" rating on shares of Timken in a research note on Friday, November 22nd. DA Davidson cut their price target on shares of Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Oppenheimer lowered their price objective on shares of Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.00.

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.