Cozad Asset Management Inc. Trims Position in The Timken Company (NYSE:TKR)

Cozad Asset Management Inc. lessened its stake in shares of The Timken Company (NYSE:TKR) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,018 shares of the industrial products company’s stock after selling 2,419 shares during the period. Cozad Asset Management Inc.’s holdings in Timken were worth $2,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TKR. Provident Investment Management Inc. acquired a new stake in shares of Timken during the 3rd quarter worth about $23,408,000. Stansberry Asset Management LLC acquired a new stake in shares of Timken during the 3rd quarter worth about $16,422,000. Atlantic Investment Management Inc. increased its position in shares of Timken by 69.4% during the 3rd quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock worth $38,222,000 after purchasing an additional 213,000 shares during the last quarter. Invesco Ltd. increased its position in shares of Timken by 31.9% during the 3rd quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock worth $50,015,000 after purchasing an additional 164,421 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Timken during the 4th quarter worth about $12,398,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Timken Stock Up 5.3 %

Shares of TKR traded up $4.61 during midday trading on Tuesday, hitting $91.31. The company had a trading volume of 676,799 shares, compared to its average volume of 494,829. The company’s 50-day simple moving average is $85.43 and its 200-day simple moving average is $79.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.79. The firm has a market capitalization of $6.43 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.18 and a beta of 1.54. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08.

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, beating the consensus estimate of $1.22 by $0.15. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Timken had a return on equity of 19.57% and a net margin of 8.26%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. As a group, sell-side analysts expect that The Timken Company will post 6.02 EPS for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s payout ratio is 24.18%.

Timken Company 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.