The Timken Company (NYSE:TKR) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in The Timken Company (NYSE:TKR) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,589 shares of the industrial products company’s stock after buying an additional 5,221 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.51% of Timken worth $24,908,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its stake in shares of Timken by 4.4% in the fourth quarter. Retirement Systems of Alabama now owns 184,387 shares of the industrial products company’s stock worth $13,160,000 after purchasing an additional 7,744 shares in the last quarter. Pacer Advisors Inc. grew its position in Timken by 2.6% in the 4th quarter. Pacer Advisors Inc. now owns 9,507 shares of the industrial products company’s stock valued at $679,000 after buying an additional 237 shares in the last quarter. KBC Group NV increased its stake in Timken by 83.6% during the 4th quarter. KBC Group NV now owns 3,114 shares of the industrial products company’s stock valued at $222,000 after buying an additional 1,418 shares during the period. Blue Trust Inc. raised its position in shares of Timken by 107.5% during the 4th quarter. Blue Trust Inc. now owns 2,069 shares of the industrial products company’s stock worth $148,000 after buying an additional 1,072 shares in the last quarter. Finally, Olstein Capital Management L.P. lifted its stake in shares of Timken by 17.2% in the 4th quarter. Olstein Capital Management L.P. now owns 17,000 shares of the industrial products company’s stock worth $1,213,000 after acquiring an additional 2,500 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Down 0.0 %

TKR stock opened at $83.09 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.62. The firm has a market capitalization of $5.83 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.21 and a beta of 1.39. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The company’s 50 day simple moving average is $76.01 and its 200-day simple moving average is $79.32.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, equities research analysts anticipate that The Timken Company will post 5.6 EPS for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.64%. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. KeyCorp reissued a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Citigroup decreased their target price on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Oppenheimer dropped their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.60.

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.