The Timken Company (NYSE:TKR) Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 33.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 616,130 shares of the industrial products company's stock after purchasing an additional 153,698 shares during the period. Sei Investments Co. owned approximately 0.88% of Timken worth $43,973,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of Timken during the fourth quarter valued at $29,000. Amundi increased its stake in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after acquiring an additional 174 shares during the period. Brooklyn Investment Group purchased a new position in shares of Timken during the 3rd quarter valued at about $74,000. Kohmann Bosshard Financial Services LLC purchased a new position in Timken during the fourth quarter valued at approximately $109,000. Finally, AlphaQuest LLC lifted its stake in shares of Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock valued at $112,000 after purchasing an additional 1,559 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by insiders.

Remove Ads

Timken Stock Performance

Shares of TKR stock traded up $0.01 during mid-day trading on Tuesday, hitting $76.27. 861,870 shares of the stock were exchanged, compared to its average volume of 499,029. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.51 and a beta of 1.37. The stock's fifty day simple moving average is $78.25 and its two-hundred day simple moving average is $78.41.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping 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, analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken's dividend payout ratio is currently 27.25%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup lowered their price target on Timken from $90.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Morgan Stanley lifted their target price on shares of Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, Jefferies Financial Group raised shares of Timken from a "hold" rating to a "buy" rating and increased their price target for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock 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.