Strs Ohio Has $18.87 Million Stake in The Timken Company (NYSE:TKR)

Strs Ohio trimmed its holdings in shares of The Timken Company (NYSE:TKR) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 235,423 shares of the industrial products company’s stock after selling 907 shares during the quarter. Strs Ohio owned about 0.33% of Timken worth $18,869,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Sunbelt Securities Inc. acquired a new stake in shares of Timken in the second quarter valued at about $36,000. IFP Advisors Inc grew its position in shares of Timken by 96.3% in the second quarter. IFP Advisors Inc now owns 430 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 211 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Timken in the first quarter valued at about $36,000. Lazard Asset Management LLC acquired a new stake in shares of Timken in the fourth quarter valued at about $34,000. Finally, Money Concepts Capital Corp acquired a new stake in shares of Timken in the fourth quarter valued at about $35,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TKR. The Goldman Sachs Group raised their price target on Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Stifel Nicolaus reduced their target price on shares of Timken from $93.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, December 19th. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price on the stock. in a research report on Tuesday, February 20th. Oppenheimer reissued an “outperform” rating and set a $100.00 target price (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. Finally, Morgan Stanley initiated coverage on Timken in a research report on Monday, January 8th. They set an “equal weight” rating and a $74.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Timken has a consensus rating of “Hold” and an average target price of $85.90.

Timken Stock Down 0.3 %

NYSE TKR opened at $84.77 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $84.75 and its two-hundred day moving average is $78.78. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.18 and a beta of 1.54. The Timken Company has a 1-year low of $65.71 and a 1-year high of $95.08.

Timken (NYSE:TKR) last released its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.06 billion. Timken had a return on equity of 19.57% and a net margin of 8.26%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. Equities analysts forecast that The Timken Company will post 6.01 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s payout ratio is 24.18%.

About Timken

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.