Frontier Capital Management Co. LLC Decreases Holdings in The Timken Company (NYSE:TKR)

Frontier Capital Management Co. LLC trimmed its stake in shares of The Timken Company (NYSE:TKR) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 466,147 shares of the industrial products company’s stock after selling 3,677 shares during the quarter. Frontier Capital Management Co. LLC owned 0.66% of Timken worth $33,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TKR. Vanguard Group Inc. grew its holdings in shares of Timken by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company’s stock worth $461,461,000 after purchasing an additional 26,973 shares during the last quarter. American Century Companies Inc. lifted its stake in Timken by 11.3% during the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after acquiring an additional 320,354 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Timken by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company’s stock worth $159,403,000 after purchasing an additional 124,676 shares during the period. Earnest Partners LLC increased its stake in Timken by 0.3% in the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company’s stock worth $92,433,000 after buying an additional 3,594 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Timken by 5.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company’s stock valued at $91,711,000 after acquiring an additional 63,485 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Up 3.5 %

TKR opened at $68.46 on Friday. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The firm’s 50-day simple moving average is $67.89 and its 200-day simple moving average is $74.17. The Timken Company has a twelve month low of $56.20 and a twelve month high of $93.66.

Timken (NYSE:TKR) last posted its quarterly 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). 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 the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts anticipate that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.34. Timken’s payout ratio is presently 30.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TKR shares. Evercore ISI upped their target price on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Citigroup lifted their price target on shares of Timken from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group cut their price target on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Timken has an average rating of “Hold” and an average price target of $80.20.

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.