LSV Asset Management Has $67.50 Million Holdings in The Timken Company (NYSE:TKR)

LSV Asset Management lessened its position in shares of The Timken Company (NYSE:TKR) by 11.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 842,192 shares of the industrial products company’s stock after selling 109,296 shares during the period. LSV Asset Management’s holdings in Timken were worth $67,502,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC raised its holdings in shares of Timken by 19.6% during the third quarter. Commonwealth Equity Services LLC now owns 7,599 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 1,245 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Timken by 8.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,954 shares of the industrial products company’s stock worth $1,981,000 after acquiring an additional 2,026 shares in the last quarter. Verdence Capital Advisors LLC grew its position in Timken by 8.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,387 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 348 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Timken by 26.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,643 shares of the industrial products company’s stock valued at $4,089,000 after buying an additional 11,748 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of Timken in the 3rd quarter worth approximately $235,000. Institutional investors own 89.08% of the company’s stock.

Timken Trading Up 0.4 %

NYSE:TKR traded up $0.32 during trading hours on Friday, reaching $89.49. The company’s stock had a trading volume of 408,980 shares, compared to its average volume of 516,739. The firm has a 50-day simple moving average of $86.12 and a 200-day simple moving average of $80.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.87. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.21 and a beta of 1.51.

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

Timken Increases Dividend

The company also recently announced 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 represents a $1.36 annualized dividend and a dividend yield of 1.52%. This is an increase from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, May 13th. Timken’s payout ratio is presently 25.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TKR. Loop Capital raised their target price on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group increased their price target on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Evercore ISI cut shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a report on Tuesday, February 20th. KeyCorp lifted their price objective on Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, StockNews.com lowered Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.09.

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.