Cerity Partners LLC Makes New $239,000 Investment in The Timken Company (NYSE:TKR)

Cerity Partners LLC acquired a new position in shares of The Timken Company (NYSE:TKR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,979 shares of the industrial products company’s stock, valued at approximately $239,000.

A number of other hedge funds have also recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its stake in shares of Timken by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock worth $2,552,000 after purchasing an additional 161 shares during the period. Portside Wealth Group LLC raised its stake in Timken by 6.6% in the 3rd quarter. Portside Wealth Group LLC now owns 3,006 shares of the industrial products company’s stock valued at $224,000 after acquiring an additional 186 shares during the period. Arizona State Retirement System raised its stake in Timken by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock valued at $1,363,000 after acquiring an additional 194 shares during the period. Public Employees Retirement System of Ohio raised its stake in Timken by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,537 shares of the industrial products company’s stock valued at $2,097,000 after acquiring an additional 262 shares during the period. Finally, Assetmark Inc. raised its stake in Timken by 1.8% in the 3rd quarter. Assetmark Inc. now owns 16,128 shares of the industrial products company’s stock valued at $1,185,000 after acquiring an additional 285 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TKR. StockNews.com cut Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Oppenheimer restated an “outperform” rating and issued a $100.00 price objective (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. Evercore ISI cut Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective on the stock. in a research note on Tuesday, February 20th. Morgan Stanley started coverage on Timken in a research note on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price objective on the stock. Finally, DA Davidson started coverage on Timken in a report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $85.90.

Timken Stock Up 0.2 %

Shares of NYSE TKR opened at $84.98 on Monday. The Timken Company has a 12 month low of $65.71 and a 12 month high of $95.08. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.18 and a beta of 1.54. The business has a 50-day moving average of $85.33 and a 200-day moving average of $79.49.

Timken (NYSE:TKR) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.22 by $0.15. Timken had a return on equity of 19.57% and a net margin of 8.26%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. Timken’s revenue was up .9% on a year-over-year basis. Sell-side analysts expect that The Timken Company will post 6.02 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s dividend payout ratio is currently 24.18%.

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.