Channing Capital Management LLC Has $10.57 Million Stock Position in The Timken Company (NYSE:TKR)

Channing Capital Management LLC raised its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,112 shares of the industrial products company's stock after purchasing an additional 12,812 shares during the quarter. Channing Capital Management LLC owned 0.21% of Timken worth $10,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Thrivent Financial for Lutherans boosted its stake in shares of Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company's stock valued at $225,880,000 after purchasing an additional 107,350 shares in the last quarter. State Street Corp increased its holdings in Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company's stock valued at $164,689,000 after purchasing an additional 66,208 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock valued at $143,376,000 after purchasing an additional 434,800 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Timken by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company's stock worth $90,477,000 after purchasing an additional 5,970 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Timken by 418.4% in the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock valued at $62,959,000 after buying an additional 711,979 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

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Insider Buying and Selling

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 shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares of the company's stock, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.70% of the stock is owned by company insiders.

Timken Trading Up 2.7 %

Shares of Timken stock traded up $1.93 during trading on Friday, reaching $74.58. 367,445 shares of the company were exchanged, compared to its average volume of 498,135. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.51 and a beta of 1.37. The business has a 50-day moving average price of $77.97 and a 200-day moving average price of $78.88. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS 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%. Sell-side analysts anticipate that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken's dividend payout ratio is presently 27.25%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TKR shares. KeyCorp reiterated a "sector weight" rating on shares of Timken in a research report on Friday, November 22nd. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and increased their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group raised Timken from a "hold" rating to a "buy" rating and upped their price objective for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Citigroup decreased their price objective on Timken from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley boosted their target price on Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Timken has an average rating of "Moderate Buy" and an average 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.