M&T Bank Corp Decreases Stock Holdings in The Timken Company (NYSE:TKR)

M&T Bank Corp lessened its holdings in The Timken Company (NYSE:TKR) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,870 shares of the industrial products company’s stock after selling 1,223 shares during the period. M&T Bank Corp’s holdings in Timken were worth $2,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in shares of Timken during the fourth quarter valued at approximately $35,000. Anchor Investment Management LLC acquired a new position in shares of Timken in the 4th quarter worth approximately $58,000. Amica Retiree Medical Trust bought a new position in shares of Timken in the 3rd quarter worth about $75,000. Ramirez Asset Management Inc. acquired a new position in Timken in the third quarter valued at approximately $81,000. Finally, Quent Capital LLC lifted its holdings in shares of Timken by 50.4% in the 4th quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 341 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity at Timken

In related news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Richard G. Kyle sold 20,000 shares of Timken stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the transaction, the chief executive officer now directly 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 Timken stock in a transaction dated 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 $7,590,053.50. The disclosure for this sale can be found here. Insiders sold a total of 59,006 shares of company stock worth $5,269,636 in the last 90 days. 8.70% of the stock is owned by company insiders.

Timken Stock Down 0.2 %

Shares of Timken stock opened at $89.82 on Thursday. The stock has a 50-day simple moving average of $86.53 and a 200-day simple moving average of $80.41. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $2.09 EPS. The firm’s revenue was down 5.7% on a year-over-year basis. On average, equities research analysts expect that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.33. Timken’s payout ratio is currently 25.14%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TKR. KeyCorp raised their target price on Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their price objective on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. DA Davidson initiated coverage on shares of Timken in a report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $100.00 target price (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. Finally, Evercore ISI lowered shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $87.09.

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.