Ellsworth Advisors LLC Increases Stock Position in The Timken Company (NYSE:TKR)

Ellsworth Advisors LLC increased its position in The Timken Company (NYSE:TKR) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,920 shares of the industrial products company’s stock after acquiring an additional 2,479 shares during the period. Ellsworth Advisors LLC owned about 0.08% of Timken worth $4,322,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Uncommon Cents Investing LLC raised its holdings in Timken by 5.0% in the 4th quarter. Uncommon Cents Investing LLC now owns 25,395 shares of the industrial products company’s stock worth $2,035,000 after acquiring an additional 1,215 shares during the last quarter. Highland Capital Management LLC grew its position in Timken by 0.7% in the 4th quarter. Highland Capital Management LLC now owns 49,850 shares of the industrial products company’s stock worth $3,995,000 after purchasing an additional 340 shares during the period. Sendero Wealth Management LLC grew its position in Timken by 39.7% in the 4th quarter. Sendero Wealth Management LLC now owns 5,867 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 1,667 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in Timken in the 4th quarter worth approximately $601,000. Finally, Pacer Advisors Inc. grew its position in Timken by 55.7% in the 4th quarter. Pacer Advisors Inc. now owns 18,715 shares of the industrial products company’s stock worth $1,500,000 after purchasing an additional 6,696 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stifel Nicolaus cut their target price on shares of Timken from $93.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, December 19th. Morgan Stanley assumed coverage on shares of Timken in a research report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 target price for the company. Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price for the company. in a research report on Tuesday, February 20th. DA Davidson started coverage on shares of Timken in a research report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective for the company. Finally, Oppenheimer reissued an “outperform” rating and set a $100.00 price objective (up previously from $97.00) on shares of Timken in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.90.

Timken Price Performance

Timken stock traded down $0.71 during mid-day trading on Friday, hitting $87.43. The stock had a trading volume of 373,351 shares, compared to its average volume of 468,083. The firm has a market capitalization of $6.15 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.22 and a beta of 1.54. 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’s 50 day moving average is $83.46 and its 200 day moving average is $77.44. The Timken Company has a one year low of $65.71 and a one year high of $95.08.

Timken (NYSE:TKR) last issued its earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.15. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.06 billion. Timken had a net margin of 8.26% and a return on equity of 19.57%. Timken’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. On average, sell-side 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 declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s payout ratio is currently 24.18%.

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.