GHP Investment Advisors Inc. Boosts Stake in Timken Company (The) (NYSE:TKR)

GHP Investment Advisors Inc. increased its position in Timken Company (The) (NYSE:TKR) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,631 shares of the industrial products company’s stock after buying an additional 553 shares during the period. GHP Investment Advisors Inc.’s holdings in Timken were worth $1,339,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TKR. Sanctuary Advisors LLC lifted its position in shares of Timken by 1.3% in the fourth quarter. Sanctuary Advisors LLC now owns 18,922 shares of the industrial products company’s stock worth $1,350,000 after buying an additional 250 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Timken by 8.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock worth $141,000 after buying an additional 158 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Timken by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 717,278 shares of the industrial products company’s stock worth $51,192,000 after acquiring an additional 50,519 shares during the last quarter. Phocas Financial Corp. bought a new stake in Timken during the fourth quarter worth approximately $550,000. Finally, Proficio Capital Partners LLC bought a new stake in Timken during the fourth quarter worth approximately $3,101,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Trading Down 0.7%

TKR opened at $73.14 on Thursday. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 1.75 and a beta of 1.28. The stock’s 50 day moving average price is $68.98 and its 200-day moving average price is $72.46. Timken Company has a one year low of $56.20 and a one year high of $90.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Timken had a net margin of 7.24% and a return on equity of 12.62%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. On average, equities analysts forecast that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a $0.35 dividend. This is a positive change from Timken’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. Timken’s payout ratio is presently 30.17%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TKR. DA Davidson boosted their price objective on Timken from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Morgan Stanley reduced their price objective on Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Citigroup boosted their price objective on Timken from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer reduced their price objective on Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 target price (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $79.00.

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.