Semanteon Capital Management LP Makes New Investment in The Timken Company (NYSE:TKR)

Semanteon Capital Management LP purchased a new position in shares of The Timken Company (NYSE:TKR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,059 shares of the industrial products company’s stock, valued at approximately $405,000.

Several other large investors also recently modified their holdings of the stock. Treasurer of the State of North Carolina raised its position in shares of Timken by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock valued at $2,552,000 after purchasing an additional 161 shares during the period. Portside Wealth Group LLC raised its position in shares of Timken by 6.6% in the third quarter. Portside Wealth Group LLC now owns 3,006 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 186 shares during the period. Arizona State Retirement System raised its position in shares of Timken by 1.1% in the third quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock valued at $1,363,000 after purchasing an additional 194 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Timken by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 28,537 shares of the industrial products company’s stock valued at $2,097,000 after purchasing an additional 262 shares during the period. Finally, Assetmark Inc. raised its position in shares of Timken by 1.8% in the third quarter. Assetmark Inc. now owns 16,128 shares of the industrial products company’s stock valued at $1,185,000 after purchasing an additional 285 shares during the period. 89.08% of the stock is owned by institutional investors.

Timken Price Performance

Timken stock traded up $0.08 during trading hours on Friday, reaching $84.93. 502,682 shares of the stock were exchanged, compared to its average volume of 488,337. The company has a market cap of $5.98 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08. The stock has a 50 day moving average of $85.33 and a two-hundred day moving average of $79.40.

Timken (NYSE:TKR) last posted its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company posted $1.22 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts expect that The Timken Company will post 6.02 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were paid a $0.33 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.55%. Timken’s payout ratio is currently 24.18%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TKR. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. The Goldman Sachs Group upped their price target on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Morgan Stanley began coverage on shares of Timken in a research note on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price target on the stock. Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a research note on Tuesday, February 20th. Finally, DA Davidson began coverage on shares of Timken in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Timken has an average rating of “Hold” and an average price target of $85.90.

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.