Kennedy Capital Management Inc. cut its stake in Timken Co (NYSE:TKR) by 1.2% in the fourth quarter, Holdings Channel reports. The fund owned 96,972 shares of the industrial products company’s stock after selling 1,160 shares during the quarter. Kennedy Capital Management Inc.’s holdings in Timken were worth $4,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allianz Asset Management GmbH lifted its position in Timken by 24.7% in the fourth quarter. Allianz Asset Management GmbH now owns 452,972 shares of the industrial products company’s stock valued at $22,263,000 after acquiring an additional 89,714 shares during the last quarter. Assetmark Inc. lifted its position in Timken by 976.8% in the fourth quarter. Assetmark Inc. now owns 3,015 shares of the industrial products company’s stock valued at $148,000 after acquiring an additional 2,735 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Timken in the fourth quarter valued at $3,718,000. OppenheimerFunds Inc. lifted its position in Timken by 9.6% in the fourth quarter. OppenheimerFunds Inc. now owns 17,354 shares of the industrial products company’s stock valued at $853,000 after acquiring an additional 1,522 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in Timken by 11.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 103,946 shares of the industrial products company’s stock valued at $5,109,000 after acquiring an additional 10,990 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.
TKR has been the subject of a number of research reports. Longbow Research raised shares of Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Jefferies Group raised shares of Timken from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus reduced their target price on shares of Timken from $53.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $52.25.
Shares of Timken Co (NYSE TKR) opened at $46.70 on Monday. Timken Co has a 1-year low of $41.78 and a 1-year high of $55.65. The company has a quick ratio of 1.13, a current ratio of 2.23 and a debt-to-equity ratio of 0.58. The company has a market cap of $3,637.13, a PE ratio of 17.82, a PEG ratio of 1.24 and a beta of 1.55.
Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Timken had a net margin of 6.77% and a return on equity of 14.55%. The business had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $767.98 million. During the same period in the prior year, the company earned $0.47 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. sell-side analysts anticipate that Timken Co will post 3.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were issued a $0.27 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.31%. Timken’s payout ratio is 42.02%.
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Timken Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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