Granite Investment Partners LLC lifted its position in The Timken Company (NYSE:TKR – Get Rating) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,116 shares of the industrial products company’s stock after buying an additional 5,339 shares during the quarter. Granite Investment Partners LLC owned about 0.07% of Timken worth $3,542,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. HighTower Advisors LLC raised its stake in Timken by 49.3% in the fourth quarter. HighTower Advisors LLC now owns 17,751 shares of the industrial products company’s stock valued at $1,229,000 after buying an additional 5,861 shares during the period. Empowered Funds LLC acquired a new stake in Timken during the 4th quarter valued at $753,000. Principal Financial Group Inc. lifted its holdings in Timken by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 754,512 shares of the industrial products company’s stock valued at $51,935,000 after purchasing an additional 7,236 shares during the last quarter. AlphaCrest Capital Management LLC boosted its position in Timken by 45.4% during the fourth quarter. AlphaCrest Capital Management LLC now owns 15,667 shares of the industrial products company’s stock worth $1,086,000 after purchasing an additional 4,892 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in shares of Timken by 6.7% in the fourth quarter. First Horizon Advisors Inc. now owns 2,426 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 80.18% of the company’s stock.
Shares of NYSE:TKR opened at $60.36 on Tuesday. The Timken Company has a 1 year low of $55.32 and a 1 year high of $92.39. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.93 and a beta of 1.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 1.31. The company’s 50 day simple moving average is $60.46 and its 200 day simple moving average is $66.37.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th will be paid a dividend of $0.31 per share. This is an increase from Timken’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.24 annualized dividend and a yield of 2.05%. Timken’s payout ratio is presently 24.59%.
In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $68.32, for a total transaction of $341,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.79% of the stock is currently owned by corporate insiders.
TKR has been the topic of a number of research reports. Oppenheimer began coverage on shares of Timken in a research note on Wednesday, April 13th. They issued an “outperform” rating and a $75.00 price target on the stock. KeyCorp lowered their target price on Timken from $84.00 to $75.00 in a research note on Tuesday, May 3rd. StockNews.com raised Timken from a “hold” rating to a “buy” rating in a report on Tuesday, May 3rd. Morgan Stanley decreased their price objective on Timken from $76.00 to $72.00 and set an “equal weight” rating on the stock in a report on Monday, April 18th. Finally, Zacks Investment Research raised Timken from a “sell” rating to a “hold” rating and set a $59.00 target price for the company in a report on Thursday, April 7th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $77.10.
About Timken (Get Rating)
The Timken Company designs, manufactures, and manages engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, 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.
- Get a free copy of the StockNews.com research report on Timken (TKR)
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