GAMMA Investing LLC Acquires New Holdings in The Timken Company (NYSE:TKR)

GAMMA Investing LLC bought a new position in shares of The Timken Company (NYSE:TKR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 425 shares of the industrial products company’s stock, valued at approximately $35,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its position in shares of Timken by 19.6% during the third quarter. Commonwealth Equity Services LLC now owns 7,599 shares of the industrial products company’s stock valued at $559,000 after buying an additional 1,245 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Timken by 8.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 26,954 shares of the industrial products company’s stock worth $1,981,000 after purchasing an additional 2,026 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Timken by 8.6% in the third quarter. Verdence Capital Advisors LLC now owns 4,387 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 348 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Timken by 26.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,643 shares of the industrial products company’s stock valued at $4,089,000 after purchasing an additional 11,748 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Timken during the 3rd quarter worth $235,000. Institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

NYSE TKR opened at $89.49 on Friday. The stock has a 50-day simple moving average of $86.12 and a two-hundred day simple moving average of $79.96. The firm has a market capitalization of $6.30 billion, a P/E ratio of 17.05, a PEG ratio of 1.21 and a beta of 1.51. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.87.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the business posted $2.09 EPS. On average, equities analysts forecast that The Timken Company will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is presently 25.14%.

Analyst Ratings Changes

Several equities research analysts have weighed in on TKR shares. Loop Capital raised their price target on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday. Stifel Nicolaus boosted their target price on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson initiated coverage on shares of Timken in a report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price target for the company. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Evercore ISI cut Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.09.

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.