Tradewinds Capital Management LLC Acquires New Shares in The Timken Company (NYSE:TKR)

Tradewinds Capital Management LLC acquired a new stake in shares of The Timken Company (NYSE:TKR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,000 shares of the industrial products company’s stock, valued at approximately $350,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Timken in the 4th quarter worth approximately $56,995,000. Fiduciary Management Inc. WI increased its position in shares of Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after acquiring an additional 551,097 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Timken by 6,368.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 193,790 shares of the industrial products company’s stock worth $15,532,000 after acquiring an additional 190,794 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Timken by 15.8% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock worth $105,247,000 after acquiring an additional 178,870 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Timken in the fourth quarter worth approximately $12,398,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other 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 transaction of $897,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the transaction, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The disclosure for this sale can be found here. In the last three months, insiders sold 59,006 shares of company stock valued at $5,269,636. 8.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TKR has been the subject of several research analyst reports. KeyCorp upped their target price on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Raymond James began coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $100.00 target price (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. Loop Capital upped their target price on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus increased their price objective on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Timken presently has a consensus rating of “Hold” and an average target price of $87.91.

Timken Trading Up 0.3 %

Shares of NYSE:TKR traded up $0.23 during mid-day trading on Wednesday, reaching $79.77. The stock had a trading volume of 90,507 shares, compared to its average volume of 471,899. The firm has a market cap of $5.62 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.70 and a beta of 1.46. The firm has a 50 day simple moving average of $85.92 and a two-hundred day simple moving average of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08.

Timken (NYSE:TKR) last announced its quarterly 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. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. Timken’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the company posted $2.09 EPS. On average, research analysts predict that The Timken Company will post 6.2 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.70%. This is a boost from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, May 13th. Timken’s dividend payout ratio is presently 25.90%.

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.