Proficio Capital Partners LLC Makes New $3.10 Million Investment in The Timken Company (NYSE:TKR)

Proficio Capital Partners LLC acquired a new position in shares of The Timken Company (NYSE:TKR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 43,453 shares of the industrial products company's stock, valued at approximately $3,101,000. Proficio Capital Partners LLC owned about 0.06% of Timken as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Coastline Trust Co acquired a new stake in shares of Timken during the third quarter worth $29,000. Brooklyn Investment Group acquired a new stake in shares of Timken during the third quarter worth $74,000. Venturi Wealth Management LLC boosted its holdings in shares of 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 last quarter. Blue Trust Inc. boosted its holdings in shares of Timken by 88.3% during the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock worth $134,000 after purchasing an additional 880 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Up 0.6 %

Timken stock traded up $0.49 during midday trading on Friday, hitting $77.02. The stock had a trading volume of 506,377 shares, compared to its average volume of 666,454. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.39 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.51 and a beta of 1.37. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The business has a fifty day moving average price of $77.67 and a 200 day moving average price of $79.14.

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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 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%. Research analysts predict that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.77%. The ex-dividend date was Tuesday, February 25th. Timken's dividend payout ratio is currently 27.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TKR shares. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and lifted their target price for the company from $80.00 to $95.00 in a report on Friday, December 6th. Evercore ISI lifted their target price on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. KeyCorp reiterated 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 objective for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Finally, Citigroup reduced their price objective on Timken from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.70.

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 90,541 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by corporate insiders.

Timken Company 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.