Sterling Capital Management LLC Acquires 11,876 Shares of The Timken Company (NYSE:TKR)

Sterling Capital Management LLC boosted its stake in The Timken Company (NYSE:TKR - Free Report) by 79.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,838 shares of the industrial products company's stock after purchasing an additional 11,876 shares during the period. Sterling Capital Management LLC's holdings in Timken were worth $1,915,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TKR. Barclays PLC increased its stake in shares of Timken by 221.6% in the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock valued at $7,307,000 after buying an additional 59,716 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company's stock worth $4,327,000 after purchasing an additional 13,697 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Timken in the 4th quarter worth approximately $14,460,000. Janney Montgomery Scott LLC boosted its stake in shares of Timken by 25.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock valued at $7,644,000 after purchasing an additional 22,003 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Timken during the fourth quarter worth $574,000. 89.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TKR. 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 research report on Wednesday, April 2nd. Evercore ISI upped their target price on shares of Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Morgan Stanley dropped their price objective on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday. Citigroup lowered their target price on shares of Timken from $95.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Timken currently has an average rating of "Moderate Buy" and an average target price of $84.91.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by corporate insiders.

Timken Price Performance

Shares of TKR traded up $0.42 during mid-day trading on Friday, reaching $61.39. 652,480 shares of the stock traded hands, compared to its average volume of 553,850. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. 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 firm has a fifty day moving average price of $72.55 and a 200 day moving average price of $76.04. The Timken Company has a 1 year low of $56.20 and a 1 year high of $94.71.

Timken (NYSE:TKR - Get Free Report) last posted 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 net margin of 7.71% and a return on equity of 13.93%. As a group, equities research analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.22%. Timken's dividend payout ratio (DPR) is 27.25%.

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.