Landscape Capital Management L.L.C. Acquires Shares of 7,930 The Timken Company (NYSE:TKR)

Landscape Capital Management L.L.C. bought a new position in The Timken Company (NYSE:TKR) during the fourth quarter, HoldingsChannel.com reports. The fund bought 7,930 shares of the industrial products company’s stock, valued at approximately $566,000.

Several other hedge funds have also recently made changes to their positions in TKR. Vestcor Inc bought a new stake in Timken during the third quarter worth approximately $560,000. TT International Asset Management LTD raised its holdings in Timken by 1,075.2% during 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 lifted its position in Timken by 221.6% in the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after buying an additional 59,716 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Timken by 29.2% during the fourth 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, Raymond James Financial Inc. bought a new position in Timken during the fourth quarter valued at $14,460,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TKR shares. Evercore ISI lifted their price target on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and upped their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reissued a “hold” rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group decreased their target price on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and six have given 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 $88.82.

Insider Activity

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred 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 transaction, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.70% of the company’s stock.

Timken Stock Performance

TKR stock opened at $59.88 on Monday. The Timken Company has a 1-year low of $58.26 and a 1-year high of $94.71. The business has a 50-day moving average price of $77.08 and a 200 day moving average price of $77.81. The company has a market capitalization of $4.19 billion, a P/E ratio of 12.00, a PEG ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

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

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 2.27%. Timken’s dividend payout ratio (DPR) is presently 27.25%.

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.