Sheets Smith Wealth Management Acquires 190 Shares of The Timken Company (NYSE:TKR)

Sheets Smith Wealth Management increased its position in shares of The Timken Company (NYSE:TKR) by 3.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,856 shares of the industrial products company’s stock after purchasing an additional 190 shares during the period. Sheets Smith Wealth Management’s holdings in Timken were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TKR. Envestnet Asset Management Inc. increased its holdings in Timken by 7.3% during the second quarter. Envestnet Asset Management Inc. now owns 188,471 shares of the industrial products company’s stock worth $15,102,000 after buying an additional 12,883 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Timken during the second quarter worth $1,394,000. Vanguard Personalized Indexing Management LLC increased its holdings in Timken by 5.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,313 shares of the industrial products company’s stock worth $742,000 after buying an additional 493 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Timken by 102.5% during the second quarter. Hsbc Holdings PLC now owns 12,186 shares of the industrial products company’s stock worth $979,000 after buying an additional 6,167 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Timken during the second quarter worth $429,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Timken Price Performance

TKR stock opened at $76.42 on Thursday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The firm has a market cap of $5.36 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.01 and a beta of 1.39. The company’s 50-day moving average price is $74.74 and its two-hundred day moving average price is $79.74.

Timken (NYSE:TKR) last released its earnings results 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business earned $1.55 earnings per share. Timken’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts anticipate that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio is currently 28.27%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp restated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Citigroup decreased their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. DA Davidson decreased their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Oppenheimer decreased their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $82.00 to $93.00 in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.40.

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.