LSV Asset Management Sells 135,000 Shares of The Timken Company (NYSE:TKR)

LSV Asset Management trimmed its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 419,392 shares of the industrial products company's stock after selling 135,000 shares during the quarter. LSV Asset Management owned 0.60% of Timken worth $29,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in Timken by 418.4% in the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock valued at $62,959,000 after acquiring an additional 711,979 shares in the last quarter. Norges Bank acquired a new position in shares of Timken in the 4th quarter valued at $42,748,000. American Century Companies Inc. grew its stake in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after acquiring an additional 320,354 shares during the period. Royce & Associates LP increased its stake in Timken by 108.9% during the 4th quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company's stock worth $28,398,000 after purchasing an additional 207,439 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Timken during the fourth quarter worth $14,460,000. 89.08% of the stock is currently owned by institutional investors.

Timken Stock Performance

TKR stock traded down $0.95 during midday trading on Wednesday, reaching $61.10. 575,967 shares of the company's stock traded hands, compared to its average volume of 552,109. The firm has a market capitalization of $4.28 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company has a 50-day moving average price of $73.79 and a two-hundred day moving average price of $76.46. The Timken Company has a 52 week low of $56.20 and a 52 week 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.

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Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping 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%. As a group, equities analysts anticipate 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. Shareholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 2.23%. Timken's dividend payout ratio (DPR) is currently 27.25%.

Insider Buying and Selling

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 value 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 position. The sale 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 insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TKR. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Citigroup cut their price objective on Timken from $95.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group reduced their target price on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley lowered their price objective on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Evercore ISI raised 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $86.91.

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.