Jane Street Group LLC acquired a new position in The Timken Co (NYSE:TKR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,614 shares of the industrial products company’s stock, valued at approximately $522,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of The Timken by 3.3% in the 4th quarter. BlackRock Inc. now owns 5,734,858 shares of the industrial products company’s stock worth $281,869,000 after purchasing an additional 183,777 shares in the last quarter. Boston Partners boosted its holdings in shares of The Timken by 3.8% in the 4th quarter. Boston Partners now owns 2,405,305 shares of the industrial products company’s stock worth $118,221,000 after purchasing an additional 88,955 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of The Timken by 1.3% in the 3rd quarter. Earnest Partners LLC now owns 1,995,646 shares of the industrial products company’s stock worth $96,889,000 after purchasing an additional 25,770 shares in the last quarter. Anchor Bolt Capital LP boosted its holdings in shares of The Timken by 171.8% in the 4th quarter. Anchor Bolt Capital LP now owns 1,156,766 shares of the industrial products company’s stock worth $56,855,000 after purchasing an additional 731,141 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of The Timken by 116.9% in the 4th quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock worth $46,477,000 after purchasing an additional 509,673 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.
In other news, Director Jacqueline F. Woods sold 3,350 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $45.12, for a total value of $151,152.00. Following the completion of the sale, the director now owns 15,878 shares of the company’s stock, valued at approximately $716,415.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard G. Kyle sold 3,084 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.74, for a total value of $144,146.16. The disclosure for this sale can be found here. Insiders own 11.15% of the company’s stock.
The Timken (NYSE:TKR) last released its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The Timken had a return on equity of 14.55% and a net margin of 6.77%. The company had revenue of $778.00 million during the quarter, compared to analyst estimates of $767.98 million. During the same quarter in the previous year, the company posted $0.47 EPS. The Timken’s revenue for the quarter was up 18.8% on a year-over-year basis. equities research analysts forecast that The Timken Co will post 3.53 earnings per share for the current year.
A number of equities analysts have recently issued reports on TKR shares. Zacks Investment Research cut The Timken from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Jefferies Group upgraded The Timken from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Stifel Nicolaus cut their price objective on The Timken from $53.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, February 8th. Finally, Longbow Research upgraded The Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $51.00.
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About The Timken
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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