Ontario Teachers Pension Plan Board Raises Stake in The Timken Company (NYSE:TKR)

Ontario Teachers Pension Plan Board increased its position in shares of The Timken Company (NYSE:TKR) by 36.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,749 shares of the industrial products company’s stock after purchasing an additional 11,533 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Timken were worth $3,426,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina increased its holdings in shares of Timken by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock valued at $2,552,000 after purchasing an additional 161 shares during the period. Quadrant Capital Group LLC increased its stake in Timken by 10.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,954 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 179 shares in the last quarter. Arizona State Retirement System increased 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 worth $1,363,000 after purchasing an additional 194 shares in the last quarter. Public Employees Retirement System of Ohio increased 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 worth $2,097,000 after purchasing an additional 262 shares in the last quarter. Finally, Highland Capital Management LLC increased its stake in Timken by 0.7% in the 4th quarter. Highland Capital Management LLC now owns 49,850 shares of the industrial products company’s stock worth $3,995,000 after purchasing an additional 340 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Stock Performance

NYSE TKR traded down $1.86 during trading on Thursday, hitting $88.54. The company’s stock had a trading volume of 269,322 shares, compared to its average volume of 486,929. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $87.77 and a 200 day moving average price of $81.95. The firm has a market cap of $6.23 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.95 and a beta of 1.51. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. Timken’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 earnings per share. Equities research analysts forecast that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be paid a $0.34 dividend. This is a positive change from Timken’s previous quarterly dividend of $0.33. The ex-dividend date is Monday, May 13th. This represents a $1.36 annualized dividend and a yield of 1.54%. Timken’s payout ratio is currently 25.90%.

Insider Activity at Timken

In related news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the transaction, the chief executive officer now directly owns 366,799 shares in the company, valued at approximately $32,678,122.91. The disclosure for this sale can be found here. Insiders have sold a total of 59,006 shares of company stock valued at $5,269,636 in the last 90 days. 8.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on TKR shares. KeyCorp raised their price objective on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Evercore ISI lowered Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective for the company. in a research report on Tuesday, February 20th. StockNews.com lowered Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Loop Capital lifted their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Timken currently has an average rating of “Hold” and an average target price of $87.91.

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.