Wedge Capital Management L L P NC Has $15.13 Million Stock Holdings in The Timken Company (NYSE:TKR)

Wedge Capital Management L L P NC lessened its holdings in The Timken Company (NYSE:TKR) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 188,808 shares of the industrial products company’s stock after selling 6,147 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Timken were worth $15,133,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in shares of Timken by 7.7% in the third quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock valued at $134,233,000 after purchasing an additional 131,253 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Timken by 0.5% during the third quarter. Brown Advisory Inc. now owns 776,345 shares of the industrial products company’s stock worth $57,054,000 after purchasing an additional 4,000 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Timken by 16.8% during the third quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock worth $56,159,000 after purchasing an additional 109,767 shares in the last quarter. Invesco Ltd. boosted its position in shares of Timken by 31.9% during the third quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock worth $50,015,000 after purchasing an additional 164,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Timken by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 614,535 shares of the industrial products company’s stock worth $45,162,000 after acquiring an additional 15,374 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Performance

NYSE TKR traded up $1.16 during trading on Tuesday, reaching $86.85. The company’s stock had a trading volume of 13,736 shares, compared to its average volume of 484,909. 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 firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.18 and a beta of 1.54. The Timken Company has a 12 month low of $65.71 and a 12 month high of $95.08. The firm has a 50 day moving average price of $84.97 and a 200 day moving average price of $79.14.

Timken (NYSE:TKR) last posted its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that The Timken Company will post 6.02 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders 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 dividend yield of 1.52%. The ex-dividend date was Friday, February 16th. Timken’s dividend payout ratio (DPR) is presently 24.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TKR shares. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Oppenheimer restated an “outperform” rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. DA Davidson began coverage on shares of Timken in a research note on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley started coverage on shares of Timken in a report on Monday, January 8th. They set an “equal weight” rating and a $74.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.90.

Timken 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.