Sheets Smith Wealth Management Takes $454,000 Position in The Timken Company (NYSE:TKR)

Sheets Smith Wealth Management purchased a new position in shares of The Timken Company (NYSE:TKR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,662 shares of the industrial products company’s stock, valued at approximately $454,000.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Timken by 19.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,599 shares of the industrial products company’s stock worth $559,000 after buying an additional 1,245 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Timken by 8.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,954 shares of the industrial products company’s stock valued at $1,981,000 after acquiring an additional 2,026 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Timken by 8.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,387 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 348 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Timken by 26.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,643 shares of the industrial products company’s stock worth $4,089,000 after purchasing an additional 11,748 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in Timken in the third quarter valued at approximately $235,000. 89.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Oppenheimer restated an “outperform” rating and issued a $100.00 target price (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. KeyCorp increased their price objective on Timken from $91.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday. StockNews.com lowered Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Morgan Stanley assumed coverage on Timken in a research report on Monday, January 8th. They set an “equal weight” rating and a $74.00 price target on the stock. Finally, Stifel Nicolaus increased their target price on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.09.

Timken Stock Performance

TKR traded up $0.50 during mid-day trading on Monday, reaching $89.99. 269,851 shares of the company traded hands, compared to its average volume of 504,178. The stock has a market capitalization of $6.34 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.21 and a beta of 1.51. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average price is $86.12 and its 200-day moving average price is $80.06.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. Timken’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $2.09 EPS. On average, sell-side analysts expect that The Timken Company will post 6.18 EPS for the current year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s payout ratio is 25.90%.

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.