The Timken Company (NYSE:TKR) Shares Acquired by Foundry Partners LLC

Foundry Partners LLC lifted its stake in The Timken Company (NYSE:TKR) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 52,711 shares of the industrial products company’s stock after acquiring an additional 3,197 shares during the quarter. Foundry Partners LLC’s holdings in Timken were worth $3,762,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Fairway Wealth LLC acquired a new position in Timken during the fourth quarter worth $29,000. Amundi raised its holdings in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in Timken during the 4th quarter worth about $109,000. AlphaQuest LLC boosted its holdings in Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 1,559 shares during the period. Finally, Blue Trust Inc. grew its position in Timken by 88.3% in the 4th quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 880 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the topic of several research reports. The Goldman Sachs Group reduced their price target on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday. Evercore ISI raised their price target on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price objective (down previously from $90.00) on shares of Timken in a research report on Wednesday. Morgan Stanley lifted their target price on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Citigroup cut their price target on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Timken presently has an average rating of “Moderate Buy” and a consensus price target of $88.82.

Insider Activity

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’s 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.70% of the company’s stock.

Timken Stock Performance

Shares of TKR opened at $59.88 on Friday. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The Timken Company has a 52-week low of $58.26 and a 52-week high of $94.71. 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 stock has a 50 day moving average price of $77.08 and a 200 day moving average price of $77.86.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) 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%. Research analysts predict that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is currently 27.25%.

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.