Thoroughbred Financial Services LLC Invests $202,000 in The Timken Company (NYSE:TKR)

Thoroughbred Financial Services LLC acquired a new position in The Timken Company (NYSE:TKR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,525 shares of the industrial products company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also modified their holdings of TKR. Commonwealth Equity Services LLC increased its holdings in Timken by 19.6% in the 3rd 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 period. NBC Securities Inc. bought a new stake in Timken in the 3rd quarter valued at $715,000. Avantax Planning Partners Inc. grew its holdings in shares of Timken by 24.4% in the 3rd quarter. Avantax Planning Partners Inc. now owns 4,124 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 808 shares during the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Timken in the 3rd quarter worth about $86,000. Finally, Versor Investments LP bought a new stake in shares of Timken in the 3rd quarter worth about $502,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on TKR. Stifel Nicolaus upped their target price on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Evercore ISI lowered shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price on the stock. in a report on Tuesday, February 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $100.00 target price (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. The Goldman Sachs Group upped their price target on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Finally, StockNews.com downgraded shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned 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 $87.91.

Insider Activity

In other news, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Timken news, CEO Richard G. Kyle sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the sale, the chief executive officer now owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the sale, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,006 shares of company stock valued at $5,269,636. 8.70% of the stock is owned by insiders.

Timken Price Performance

Shares of TKR opened at $87.95 on Friday. The stock has a market capitalization of $6.19 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.92 and a beta of 1.51. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08. The company has a 50 day moving average of $87.82 and a 200-day moving average of $81.99.

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

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio is presently 25.90%.

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.