Victory Capital Management Inc. Increases Position in The Timken Company (NYSE:TKR)

Victory Capital Management Inc. boosted its holdings in shares of The Timken Company (NYSE:TKR) by 418.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 882,156 shares of the industrial products company’s stock after acquiring an additional 711,979 shares during the period. Victory Capital Management Inc. owned 1.26% of Timken worth $62,959,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Coastline Trust Co purchased a new stake in Timken during the 3rd quarter valued at about $29,000. Brooklyn Investment Group purchased a new stake in Timken during the 3rd quarter valued at about $74,000. Venturi Wealth Management LLC grew its stake in Timken by 230.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 759 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Timken during the 4th quarter valued at about $109,000. Finally, Covestor Ltd grew its stake in Timken by 20.0% during the 3rd quarter. Covestor Ltd now owns 1,786 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

Shares of TKR stock opened at $77.02 on Friday. The firm’s 50 day moving average price is $77.67 and its 200-day moving average price is $79.14. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a one year low of $69.35 and a one year high of $94.71. The firm has a market cap of $5.39 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping 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 predict that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.77%. Timken’s payout ratio is 27.25%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TKR. Morgan Stanley boosted their target price on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $95.00 in a report on Friday, December 6th. Citigroup decreased their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Finally, Evercore ISI boosted their target price on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.70.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is owned by company insiders.

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.