Paradigm Asset Management Co. LLC Sells 300 Shares of The Timken Company (NYSE:TKR)

Paradigm Asset Management Co. LLC reduced its stake in shares of The Timken Company (NYSE:TKRFree Report) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,100 shares of the industrial products company’s stock after selling 300 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Timken were worth $810,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in Timken in the fourth quarter worth approximately $35,000. Anchor Investment Management LLC purchased a new stake in shares of Timken in the 4th quarter valued at $58,000. Ramirez Asset Management Inc. bought a new position in shares of Timken during the 3rd quarter valued at $81,000. Quent Capital LLC grew its holdings in shares of Timken by 50.4% during the 4th quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 341 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its position in Timken by 145.4% in the 4th quarter. Johnson Financial Group Inc. now owns 1,264 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 749 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TKR has been the subject of several analyst reports. KeyCorp upped their price target on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $100.00 price target (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. Stifel Nicolaus raised their price target on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Evercore ISI cut shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective on the stock. in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their target price on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.91.

Get Our Latest Report on TKR

Insider Activity

In related news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the sale, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the transaction, the chief financial officer now owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the sale, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The disclosure for this sale can be found here. Insiders sold 59,006 shares of company stock worth $5,269,636 over the last three months. 8.70% of the stock is currently owned by corporate insiders.

Timken Stock Down 1.2 %

Shares of TKR traded down $1.02 on Tuesday, reaching $86.06. The stock had a trading volume of 152,793 shares, compared to its average volume of 487,799. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.85 and a beta of 1.51. The company has a 50-day simple moving average of $87.90 and a 200-day simple moving average of $82.37. The Timken Company has a 12-month low of $65.71 and a 12-month high of $95.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87.

Timken (NYSE:TKRGet Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 EPS. Sell-side analysts predict that The Timken Company will post 6.19 EPS for the current year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be paid a $0.34 dividend. This is a boost from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, May 13th. Timken’s dividend payout ratio is currently 25.90%.

Timken Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Timken (NYSE:TKR)

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