Amundi Pioneer Asset Management Inc. acquired a new position in shares of Timken Co (NYSE:TKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 487,130 shares of the industrial products company’s stock, valued at approximately $23,942,000. Amundi Pioneer Asset Management Inc. owned about 0.63% of Timken at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in Timken during the fourth quarter worth $128,000. Contravisory Investment Management Inc. bought a new stake in shares of Timken in the 4th quarter worth $148,000. Assetmark Inc. grew its stake in shares of Timken by 976.8% in the 4th quarter. Assetmark Inc. now owns 3,015 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 2,735 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Timken in the 4th quarter worth $201,000. Finally, Creative Planning bought a new stake in shares of Timken in the 4th quarter worth $210,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.
TKR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Tuesday, January 23rd. Jefferies Group upgraded shares of Timken from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Longbow Research upgraded shares of Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Finally, Stifel Nicolaus reduced their target price on shares of Timken from $53.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Timken presently has a consensus rating of “Hold” and an average target price of $52.25.
Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Timken had a net margin of 6.77% and a return on equity of 14.55%. The firm had revenue of $778.00 million during the quarter, compared to analyst estimates of $767.98 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue was up 18.8% compared to the same quarter last year. research analysts expect that Timken Co will post 3.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Tuesday, February 20th were given 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 2.34%. Timken’s payout ratio is currently 42.02%.
In related news, insider Richard G. Kyle sold 3,084 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.74, for a total transaction of $144,146.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jacqueline F. Woods sold 3,350 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $45.12, for a total transaction of $151,152.00. Following the transaction, the director now owns 15,878 shares of the company’s stock, valued at approximately $716,415.36. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by corporate insiders.
Timken Company Profile
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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