Sei Investments Co. Has $43.97 Million Stake in The Timken Company (NYSE:TKR)

Sei Investments Co. grew its stake in The Timken Company (NYSE:TKR) by 33.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 616,130 shares of the industrial products company’s stock after acquiring an additional 153,698 shares during the period. Sei Investments Co.’s holdings in Timken were worth $43,973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TKR. Vestcor Inc bought a new stake in Timken in the third quarter valued at approximately $560,000. TT International Asset Management LTD grew its holdings in shares of Timken by 1,075.2% in the 3rd 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 period. Barclays PLC increased its position in shares of Timken by 221.6% in the 3rd 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 in the last quarter. Harbor Capital Advisors Inc. raised its stake in Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after buying an additional 13,697 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Timken during the third quarter worth about $734,000. 89.08% of the stock is owned by institutional investors.

Timken Stock Performance

Shares of TKR opened at $76.30 on Tuesday. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.51 and a beta of 1.37. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The firm has a fifty day simple moving average of $78.25 and a 200 day simple moving average of $78.41. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Research analysts forecast that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 1.78%. Timken’s dividend payout ratio is 27.25%.

Insiders Place Their Bets

In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TKR shares. Evercore ISI increased their price target on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Citigroup cut their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $92.70.

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.