Ellsworth Advisors LLC Raises Stock Position in The Timken Company (NYSE:TKR)

Ellsworth Advisors LLC boosted its position in shares of The Timken Company (NYSE:TKR) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,920 shares of the industrial products company’s stock after buying an additional 2,479 shares during the quarter. Ellsworth Advisors LLC’s holdings in Timken were worth $4,322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verition Fund Management LLC grew its position in shares of Timken by 2.5% in the fourth quarter. Verition Fund Management LLC now owns 5,062 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 122 shares during the period. First Republic Investment Management Inc. grew its position in shares of Timken by 0.7% in the first quarter. First Republic Investment Management Inc. now owns 19,478 shares of the industrial products company’s stock valued at $1,592,000 after purchasing an additional 141 shares during the period. Rehmann Capital Advisory Group boosted its position in Timken by 4.0% during the second quarter. Rehmann Capital Advisory Group now owns 3,792 shares of the industrial products company’s stock worth $347,000 after acquiring an additional 145 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Timken by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock worth $2,552,000 after acquiring an additional 161 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Timken by 4.4% during the first quarter. Blair William & Co. IL now owns 4,189 shares of the industrial products company’s stock worth $342,000 after acquiring an additional 176 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Down 0.8 %

Timken stock traded down $0.71 during mid-day trading on Friday, reaching $87.43. 373,351 shares of the company’s stock were exchanged, compared to its average volume of 468,083. The company has a market cap of $6.15 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.22 and a beta of 1.54. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $83.46 and a 200-day moving average of $77.44.

Timken (NYSE:TKR) last released its earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $1.22 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts expect that The Timken Company will post 6.01 EPS for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s dividend payout ratio is presently 24.18%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TKR. DA Davidson began coverage on shares of Timken in a research report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price target on the stock. Evercore ISI lowered 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 report on Tuesday, February 20th. Oppenheimer reaffirmed an “outperform” rating and set a $100.00 target price (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. Jefferies Financial Group downgraded shares of Timken from a “buy” rating to a “hold” rating and reduced their target price for the stock from $105.00 to $85.00 in a research note on Wednesday, December 20th. Finally, StockNews.com downgraded shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.