9,800 Shares in The Timken Company (NYSE:TKR) Acquired by Polymer Capital Management US LLC

Polymer Capital Management US LLC bought a new stake in shares of The Timken Company (NYSE:TKR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,800 shares of the industrial products company's stock, valued at approximately $699,000.

Several other institutional investors have also modified their holdings of the stock. Federated Hermes Inc. boosted its stake in shares of Timken by 13.0% during the 4th quarter. Federated Hermes Inc. now owns 245,668 shares of the industrial products company's stock worth $17,533,000 after purchasing an additional 28,246 shares during the period. Landscape Capital Management L.L.C. bought a new position in Timken in the 4th quarter valued at $566,000. Foundry Partners LLC grew its position in Timken by 6.5% in the 4th quarter. Foundry Partners LLC now owns 52,711 shares of the industrial products company's stock valued at $3,762,000 after acquiring an additional 3,197 shares during the last quarter. World Investment Advisors lifted its position in shares of Timken by 9.4% during the fourth quarter. World Investment Advisors now owns 5,313 shares of the industrial products company's stock worth $379,000 after purchasing an additional 458 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Timken during the fourth quarter valued at $335,000. 89.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

TKR has been the subject of several recent research reports. The Goldman Sachs Group decreased their price objective on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Jefferies Financial Group restated a "hold" rating and set a $70.00 target price (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Morgan Stanley lifted 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. Evercore ISI raised their price objective on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $87.45.

Remove Ads

Timken Stock Performance

Timken stock traded up $1.25 during midday trading on Friday, hitting $61.50. 752,409 shares of the company were exchanged, compared to its average volume of 549,414. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $94.71. The firm has a market capitalization of $4.30 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The business has a fifty day simple moving average of $74.57 and a two-hundred day simple moving average of $76.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. On average, sell-side analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken's dividend payout ratio (DPR) is presently 27.25%.

Insider Activity at Timken

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 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 directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is owned by company insiders.

Timken Profile

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.