Earnest Partners LLC decreased its stake in Timken Co (NYSE:TKR) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,932,367 shares of the industrial products company’s stock after selling 63,279 shares during the period. Earnest Partners LLC owned 2.49% of Timken worth $94,976,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in TKR. Anchor Bolt Capital LP raised its position in Timken by 171.8% in the fourth quarter. Anchor Bolt Capital LP now owns 1,156,766 shares of the industrial products company’s stock worth $56,855,000 after acquiring an additional 731,141 shares during the period. Wells Fargo & Company MN raised its position in Timken by 116.9% in the fourth quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock worth $46,477,000 after acquiring an additional 509,673 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in Timken in the fourth quarter worth about $23,942,000. BlueCrest Capital Management Ltd bought a new stake in shares of Timken in the fourth quarter valued at approximately $9,129,000. Finally, BlackRock Inc. raised its position in shares of Timken by 3.3% in the fourth quarter. BlackRock Inc. now owns 5,734,858 shares of the industrial products company’s stock valued at $281,869,000 after purchasing an additional 183,777 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Timken Co (NYSE:TKR) opened at $46.70 on Monday. Timken Co has a 12-month low of $41.78 and a 12-month high of $55.65. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.23 and a quick ratio of 1.13. The stock has a market cap of $3,637.13, a P/E ratio of 18.17, a PEG ratio of 1.24 and a beta of 1.55.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Tuesday, February 20th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, February 16th. This represents a $1.08 annualized dividend and a yield of 2.31%. Timken’s dividend payout ratio is currently 42.02%.
In related news, Director Jacqueline F. Woods sold 3,350 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $45.12, for a total transaction of $151,152.00. Following the completion of the transaction, the director now owns 15,878 shares of the company’s stock, valued at $716,415.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Richard G. Kyle sold 3,084 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.74, for a total transaction of $144,146.16. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by insiders.
Several analysts have recently issued reports on TKR shares. Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday, February 6th. Jefferies Group raised shares of Timken from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Stifel Nicolaus lowered their price target on shares of Timken from $53.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, February 8th. Finally, Longbow Research raised shares of Timken from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Timken has an average rating of “Hold” and a consensus price target of $52.25.
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The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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