Wedge Capital Management L L P NC Sells 6,147 Shares of The Timken Company (NYSE:TKR)

Wedge Capital Management L L P NC reduced its stake in The Timken Company (NYSE:TKR) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,808 shares of the industrial products company’s stock after selling 6,147 shares during the period. Wedge Capital Management L L P NC owned 0.27% of Timken worth $15,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TKR. American Century Companies Inc. boosted its holdings in Timken by 7.7% during the third quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock worth $134,233,000 after purchasing an additional 131,253 shares during the last quarter. Brown Advisory Inc. increased its position in Timken by 0.5% during the 3rd quarter. Brown Advisory Inc. now owns 776,345 shares of the industrial products company’s stock valued at $57,054,000 after purchasing an additional 4,000 shares during the period. AQR Capital Management LLC increased its stake in shares of Timken by 16.8% in the 3rd quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock worth $56,159,000 after acquiring an additional 109,767 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Timken by 31.9% in the third quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock worth $50,015,000 after buying an additional 164,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Timken by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 614,535 shares of the industrial products company’s stock worth $45,162,000 after buying an additional 15,374 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com cut Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 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 report on Tuesday, February 20th. Morgan Stanley began coverage on Timken in a report on Monday, January 8th. They set an “equal weight” rating and a $74.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Finally, DA Davidson initiated coverage on Timken in a report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Timken currently has an average rating of “Hold” and a consensus price target of $85.90.

Timken Stock Up 1.4 %

Timken stock traded up $1.16 during midday trading on Tuesday, reaching $86.85. The company’s stock had a trading volume of 13,736 shares, compared to its average volume of 484,909. The stock’s 50-day simple moving average is $84.97 and its 200-day simple moving average is $79.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 0.96. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08. The stock has a market capitalization of $6.11 billion, a P/E ratio of 15.69, a PEG ratio of 1.18 and a beta of 1.54.

Timken (NYSE:TKR) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 earnings per share (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 firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts expect that The Timken Company will post 6.02 EPS for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Friday, February 16th. Timken’s dividend payout ratio is presently 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.