The Timken Company (NYSE:TKR) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP cut its stake in The Timken Company (NYSE:TKR) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,591 shares of the industrial products company’s stock after selling 19,300 shares during the period. Two Sigma Advisers LP owned approximately 0.29% of Timken worth $14,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TKR. State of Wyoming increased its holdings in shares of Timken by 63.1% during the 4th quarter. State of Wyoming now owns 4,498 shares of the industrial products company’s stock worth $321,000 after buying an additional 1,741 shares during the last quarter. Tema Etfs LLC purchased a new position in Timken in the fourth quarter valued at $6,217,000. Silvercrest Asset Management Group LLC boosted its stake in shares of Timken by 96.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 280,099 shares of the industrial products company’s stock valued at $19,991,000 after buying an additional 137,706 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Timken by 64.6% during the fourth quarter. Point72 Asset Management L.P. now owns 110,289 shares of the industrial products company’s stock worth $7,871,000 after buying an additional 43,289 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Timken by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 2,986 shares of the industrial products company’s stock worth $213,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the subject of several recent analyst reports. Oppenheimer decreased their target price on Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Morgan Stanley lowered their price objective on shares of Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Evercore ISI decreased their price objective on Timken from $102.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Finally, Citigroup raised their price objective on shares of Timken from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Timken currently has a consensus rating of “Hold” and a consensus price target of $78.50.

Timken Price Performance

Shares of NYSE TKR opened at $69.57 on Thursday. The Timken Company has a 52 week low of $56.20 and a 52 week high of $91.77. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.51 and a beta of 1.30. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $67.38 and its 200 day moving average price is $73.42.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share 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 analyst estimates of $1.13 billion. During the same period last year, the firm earned $1.77 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. As a group, research analysts forecast 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. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.35 per share. This is a boost from Timken’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.01%. Timken’s dividend payout ratio (DPR) is 30.17%.

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.