Tradewinds Capital Management LLC Takes Position in The Timken Company (NYSE:TKR)

Tradewinds Capital Management LLC purchased a new stake in The Timken Company (NYSE:TKR) during the first quarter, according to its most recent filing with the SEC. The firm purchased 4,000 shares of the industrial products company’s stock, valued at approximately $350,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Timken during the 4th quarter worth about $12,398,000. WCM Investment Management LLC increased its stake in shares of Timken by 8.7% in the 4th quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company’s stock valued at $16,443,000 after purchasing an additional 16,322 shares in the last quarter. Duality Advisers LP increased its stake in shares of Timken by 226.3% in the 4th quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company’s stock valued at $2,227,000 after purchasing an additional 19,274 shares in the last quarter. Fiduciary Management Inc. WI increased its stake in shares of Timken by 94.7% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after purchasing an additional 551,097 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in shares of Timken by 5.6% in the 4th quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company’s stock valued at $6,999,000 after purchasing an additional 4,598 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Timken

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

Wall Street Analyst Weigh In

Several research firms have commented on TKR. Loop Capital boosted their price objective on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Stifel Nicolaus upped their price target on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and issued a $100.00 price target (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. Raymond James initiated coverage on Timken in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, KeyCorp upped their price target on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $87.91.

Timken Trading Up 0.3 %

NYSE:TKR traded up $0.23 during trading hours on Wednesday, reaching $79.77. 90,507 shares of the stock were exchanged, compared to its average volume of 471,899. 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 business has a 50-day moving average of $85.92 and a two-hundred day moving average of $83.95. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.70 and a beta of 1.46.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The firm’s revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that The Timken Company will post 6.2 EPS for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio is currently 25.90%.

About Timken

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.