Tema Etfs LLC Invests $6.22 Million in The Timken Company (NYSE:TKR)

Tema Etfs LLC purchased a new stake in shares of The Timken Company (NYSE:TKR) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 87,105 shares of the industrial products company’s stock, valued at approximately $6,217,000. Timken accounts for 2.6% of Tema Etfs LLC’s portfolio, making the stock its 5th biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. First Horizon Advisors Inc. increased its holdings in Timken by 8.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 158 shares during the period. Amundi increased its holdings in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares during the period. Ethic Inc. increased its holdings in Timken by 2.8% during the 4th quarter. Ethic Inc. now owns 6,882 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 188 shares during the period. Sheets Smith Wealth Management increased its holdings in Timken by 3.4% during the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 190 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Timken by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 2,986 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TKR. Oppenheimer reduced their price target on Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Evercore ISI lifted their price objective on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group cut their price objective on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. DA Davidson lifted their price objective on Timken from $66.00 to $71.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Finally, Loop Capital cut their price objective on Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.20.

Timken Stock Performance

Shares of TKR opened at $73.85 on Friday. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $67.49 and its 200-day moving average price is $73.59. The Timken Company has a 52 week low of $56.20 and a 52 week high of $92.34. The stock has a market cap of $5.17 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.51 and a beta of 1.30.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). Timken had a return on equity of 13.93% and a net margin of 7.71%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $1.77 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Tuesday, May 13th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 1.90%. Timken’s dividend payout ratio is 30.17%.

About Timken

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.