Baker Ellis Asset Management LLC Decreases Stock Holdings in The Timken Company (NYSE:TKR)

Baker Ellis Asset Management LLC trimmed its stake in shares of The Timken Company (NYSE:TKR) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,955 shares of the industrial products company’s stock after selling 1,918 shares during the period. Baker Ellis Asset Management LLC’s holdings in Timken were worth $4,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vestcor Inc purchased a new stake in Timken during the third quarter valued at approximately $560,000. TT International Asset Management LTD increased its holdings in Timken by 1,075.2% during the third quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after buying an additional 35,932 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Timken during the second quarter valued at approximately $4,363,000. Barclays PLC increased its holdings in Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after buying an additional 59,716 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Timken during the third quarter valued at approximately $2,863,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on TKR shares. Citigroup reduced their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $82.00 to $93.00 in a research report on Tuesday, December 17th. DA Davidson dropped their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.40.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.70% of the stock is owned by company insiders.

Timken Price Performance

Shares of NYSE:TKR opened at $76.42 on Thursday. The Timken Company has a fifty-two week low of $69.35 and a fifty-two week high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The firm has a fifty day moving average price of $74.74 and a 200 day moving average price of $79.74. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.01 and a beta of 1.39.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the business earned $1.55 EPS. Timken’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.78%. Timken’s dividend payout ratio (DPR) is currently 28.27%.

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.