Paralel Advisors LLC Raises Holdings in The Timken Company (NYSE:TKR)

Paralel Advisors LLC raised its stake in The Timken Company (NYSE:TKR) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,717 shares of the industrial products company’s stock after purchasing an additional 2,608 shares during the quarter. Paralel Advisors LLC’s holdings in Timken were worth $2,050,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Stifel Financial Corp grew its holdings in shares of Timken by 15.1% during the third quarter. Stifel Financial Corp now owns 60,868 shares of the industrial products company’s stock valued at $5,130,000 after purchasing an additional 7,999 shares during the last quarter. State Street Corp raised its stake in Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after purchasing an additional 66,208 shares during the period. MML Investors Services LLC increased its stake in shares of Timken by 3.8% in the third quarter. MML Investors Services LLC now owns 5,790 shares of the industrial products company’s stock worth $488,000 after acquiring an additional 212 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Timken by 8.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 12,975 shares of the industrial products company’s stock worth $1,094,000 after buying an additional 1,025 shares during the last quarter. Finally, Barclays PLC boosted 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 acquiring an additional 59,716 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken 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 sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.70% of the company’s stock.

Timken Price Performance

NYSE:TKR traded down $2.55 during mid-day trading on Thursday, reaching $61.06. The stock had a trading volume of 12,679 shares, compared to its average volume of 544,037. The stock has a 50-day simple moving average of $75.26 and a two-hundred day simple moving average of $77.08. The stock has a market capitalization of $4.27 billion, a PE ratio of 12.22, a P/E/G ratio of 1.51 and a beta of 1.28. The Timken Company has a 12 month low of $54.08 and a 12 month high of $94.71. 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 earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share 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%. On average, equities analysts anticipate that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

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. This represents a $1.36 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is currently 27.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Morgan Stanley increased their target price on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. 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 report on Wednesday, April 2nd. Citigroup decreased their price objective on shares of Timken from $95.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. The Goldman Sachs Group cut their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Finally, Evercore ISI raised their price objective on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.45.

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.