Burney Co. Has $704,000 Holdings in Timken Company (The) (NYSE:TKR)

Burney Co. lessened its position in Timken Company (The) (NYSE:TKR) by 4.0% in the first quarter, HoldingsChannel reports. The fund owned 9,796 shares of the industrial products company’s stock after selling 409 shares during the quarter. Burney Co.’s holdings in Timken were worth $704,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Oak Thistle LLC purchased a new position in shares of Timken during the first quarter valued at approximately $968,000. Foundry Partners LLC boosted its position in shares of Timken by 1.4% during the first quarter. Foundry Partners LLC now owns 53,437 shares of the industrial products company’s stock valued at $3,841,000 after buying an additional 726 shares during the last quarter. Cooke & Bieler LP purchased a new position in shares of Timken during the first quarter valued at approximately $18,041,000. Verdence Capital Advisors LLC boosted its position in shares of Timken by 31.2% during the first quarter. Verdence Capital Advisors LLC now owns 5,943 shares of the industrial products company’s stock valued at $427,000 after buying an additional 1,413 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Timken by 108.8% during the first quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company’s stock valued at $132,372,000 after buying an additional 959,672 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TKR. 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 report on Wednesday, April 2nd. The Goldman Sachs Group cut their target price on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley dropped their price target on Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. DA Davidson lifted their price target on Timken from $71.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Loop Capital dropped their price target on Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.90.

Timken Stock Performance

Shares of TKR opened at $81.68 on Friday. The firm has a market cap of $5.71 billion, a PE ratio of 17.60, a PEG ratio of 1.75 and a beta of 1.27. The stock’s fifty day moving average price is $73.78 and its two-hundred day moving average price is $73.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.15 and a quick ratio of 1.71. Timken Company has a 1 year low of $56.20 and a 1 year high of $90.49.

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

Timken Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were paid a $0.35 dividend. The ex-dividend date was Tuesday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 1.71%. Timken’s payout ratio is presently 30.17%.

Timken Company 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.