Dimensional Fund Advisors LP Boosts Stock Position in The Timken Company (NYSE:TKR)

Dimensional Fund Advisors LP raised its position in The Timken Company (NYSE:TKR) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,233,493 shares of the industrial products company’s stock after purchasing an additional 124,676 shares during the period. Dimensional Fund Advisors LP owned about 3.19% of Timken worth $159,403,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after buying an additional 59,716 shares during the period. World Investment Advisors LLC purchased a new position in shares of Timken during the 3rd quarter worth $409,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Timken during the third quarter worth $172,000. Synovus Financial Corp grew its position in shares of Timken by 5.4% in the third quarter. Synovus Financial Corp now owns 8,286 shares of the industrial products company’s stock valued at $698,000 after purchasing an additional 423 shares during the period. Finally, Franklin Resources Inc. increased its stake in Timken by 0.5% in the third quarter. Franklin Resources Inc. now owns 41,373 shares of the industrial products company’s stock valued at $3,502,000 after purchasing an additional 222 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.70% of the stock is currently owned by company insiders.

Timken Stock Performance

Shares of NYSE:TKR opened at $65.00 on Friday. The company has a market cap of $4.55 billion, a P/E ratio of 13.03, a PEG ratio of 1.51 and a beta of 1.28. The Timken Company has a one year low of $56.20 and a one year high of $94.71. The business’s 50-day simple moving average is $70.91 and its 200 day simple moving average is $75.47. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. On average, sell-side analysts forecast that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s payout ratio is 27.25%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TKR. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. DA Davidson reiterated a “neutral” rating and issued a $66.00 price target (down previously from $97.00) on shares of Timken in a report on Monday. Citigroup dropped their price objective on Timken from $95.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley reduced their target price on Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Timken has an average rating of “Hold” and an average target price of $81.91.

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.