Timken Company (The) (NYSE:TKR) Shares Sold by Skylands Capital LLC

Skylands Capital LLC decreased its position in Timken Company (The) (NYSE:TKR) by 21.9% in the 1st quarter, Holdings Channel reports. The fund owned 23,900 shares of the industrial products company’s stock after selling 6,700 shares during the period. Skylands Capital LLC’s holdings in Timken were worth $1,718,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after buying an additional 711,979 shares during the period. Norges Bank purchased a new stake in shares of Timken during the fourth quarter worth about $42,748,000. Millennium Management LLC increased its position in shares of Timken by 1,421.1% during the fourth quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company’s stock worth $32,737,000 after acquiring an additional 428,545 shares during the last quarter. American Century Companies Inc. boosted its holdings in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after purchasing an additional 320,354 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Timken by 193.8% in the fourth quarter. Voloridge Investment Management LLC now owns 364,498 shares of the industrial products company’s stock valued at $26,014,000 after purchasing an additional 240,417 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Ratings Changes

TKR has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on 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 cut their price target on shares of Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Loop Capital decreased their price objective on shares of Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. DA Davidson raised 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. Finally, Citigroup lifted their price target on shares of Timken from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.00.

Timken Stock Performance

TKR stock opened at $73.32 on Friday. The company has a 50-day simple moving average of $69.48 and a 200 day simple moving average of $72.36. The company has a market capitalization of $5.13 billion, a P/E ratio of 15.80, a PEG ratio of 1.74 and a beta of 1.28. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68. Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $90.49.

Timken (NYSE:TKR) last issued 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). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. Sell-side analysts predict that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

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