Brandes Investment Partners LP Makes New Investment in The Timken Company (NYSE:TKR)

Brandes Investment Partners LP purchased a new position in shares of The Timken Company (NYSE:TKR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 65,066 shares of the industrial products company’s stock, valued at approximately $4,644,000.

A number of other institutional investors have also recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its stake in Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after buying an additional 107,350 shares in the last quarter. State Street Corp boosted its stake in Timken by 3.5% during the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after buying an additional 66,208 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after buying an additional 434,800 shares in the last quarter. Geode Capital Management LLC boosted its stake in Timken by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock worth $90,477,000 after buying an additional 5,970 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after buying an additional 711,979 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Evercore ISI lifted their price target on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a report on Friday, December 6th. Finally, Citigroup cut their price target on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.70.

Insider Transactions at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Timken Price Performance

Shares of TKR stock opened at $74.58 on Friday. The stock has a 50-day moving average price of $78.09 and a 200 day moving average price of $78.73. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 14.95, 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.

Timken (NYSE:TKR) last announced 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 return on equity of 13.93% and a net margin of 7.71%. Research analysts expect that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken’s payout ratio is currently 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.