Wedge Capital Management L L P NC Sells 3,533 Shares of The Timken Company (NYSE:TKR)

Wedge Capital Management L L P NC decreased its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,719 shares of the industrial products company's stock after selling 3,533 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.26% of Timken worth $12,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TKR. Coastline Trust Co acquired a new stake in shares of Timken during the 3rd quarter worth about $29,000. Livelsberger Financial Advisory acquired a new stake in Timken during the third quarter worth approximately $32,000. UMB Bank n.a. boosted its holdings in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock worth $36,000 after acquiring an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Timken in the second quarter valued at approximately $44,000. Finally, Brooklyn Investment Group bought a new position in shares of Timken during the third quarter worth approximately $74,000. 89.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TKR shares. Citigroup reduced their price target on Timken from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Morgan Stanley raised shares of Timken from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $82.00 to $93.00 in a research report on Tuesday, December 17th. Evercore ISI raised shares of Timken from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Finally, DA Davidson lowered their target price on shares of Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Timken has a consensus rating of "Moderate Buy" and an average target price of $92.40.

Timken Price Performance

Shares of TKR traded down $0.04 during mid-day trading on Friday, reaching $76.81. The company had a trading volume of 525,987 shares, compared to its average volume of 435,981. The company's 50 day simple moving average is $74.64 and its 200 day simple moving average is $79.80. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.95 and a beta of 1.39. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00.

Timken (NYSE:TKR - Get Free Report) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The business's quarterly revenue was down 1.4% on a year-over-year basis. Analysts expect that The Timken Company will post 5.61 EPS for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.77%. Timken's dividend payout ratio is presently 28.27%.

Insider Activity

In related news, Director Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares of the company's stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.70% of the company's stock.

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.