Phocas Financial Corp. Purchases New Shares in The Timken Company (NYSE:TKR)

Phocas Financial Corp. bought a new position in shares of The Timken Company (NYSE:TKR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,704 shares of the industrial products company's stock, valued at approximately $550,000.

A number of other institutional investors also recently bought and sold shares of TKR. Coastline Trust Co purchased a new position in Timken during the third quarter worth about $29,000. Brooklyn Investment Group purchased a new position in Timken during the third quarter worth about $74,000. Blue Trust Inc. raised its stake in Timken by 20.0% during the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company's stock worth $80,000 after purchasing an additional 166 shares during the period. Venturi Wealth Management LLC raised its stake in Timken by 230.7% during the third quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company's stock worth $92,000 after purchasing an additional 759 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in Timken by 8.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company's stock worth $141,000 after purchasing an additional 158 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Stock Up 2.2 %

Shares of TKR stock traded up $1.77 during trading on Friday, reaching $81.06. The company's stock had a trading volume of 580,555 shares, compared to its average volume of 674,371. 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 company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 1.51 and a beta of 1.39. The stock's 50-day moving average price is $77.33 and its 200 day moving average price is $79.31. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71.

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Timken (NYSE:TKR - Get Free Report) last announced 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%. On average, research analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, February 25th. Timken's dividend payout ratio (DPR) is presently 27.25%.

Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Timken from a "hold" rating to a "buy" rating and lifted their target price for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Citigroup reduced their price target on shares of Timken from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Bank of America raised shares of 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 research note on Tuesday, February 4th. Evercore ISI boosted their price target on shares of Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, Oppenheimer reduced their price target on shares of Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.