Retirement Systems of Alabama Has $14.12 Million Stake in The Timken Company (NYSE:TKR)

Retirement Systems of Alabama grew its holdings in The Timken Company (NYSE:TKR) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,113 shares of the industrial products company’s stock after purchasing an additional 1,612 shares during the period. Retirement Systems of Alabama owned about 0.25% of Timken worth $14,115,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its holdings in Timken by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock worth $2,552,000 after buying an additional 161 shares during the last quarter. Portside Wealth Group LLC increased its holdings in Timken by 6.6% in the third quarter. Portside Wealth Group LLC now owns 3,006 shares of the industrial products company’s stock worth $224,000 after buying an additional 186 shares during the last quarter. Arizona State Retirement System increased its holdings in Timken by 1.1% in the third quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock worth $1,363,000 after buying an additional 194 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Timken by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 28,537 shares of the industrial products company’s stock worth $2,097,000 after buying an additional 262 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Timken by 1.8% in the third quarter. Assetmark Inc. now owns 16,128 shares of the industrial products company’s stock worth $1,185,000 after buying an additional 285 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TKR. DA Davidson began coverage on Timken in a report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and set a $100.00 price target (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. StockNews.com downgraded Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a report on Tuesday, February 20th. Finally, Loop Capital increased their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Timken currently has an average rating of “Hold” and an average target price of $86.73.

Timken Stock Down 2.0 %

TKR opened at $87.48 on Thursday. The Timken Company has a 1-year low of $65.71 and a 1-year high of $95.08. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 1.22 and a beta of 1.51. The business has a 50 day moving average of $85.62 and a 200-day moving average of $79.72.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating 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 analysts’ expectations of $1.15 billion. During the same period in the prior year, the business earned $2.09 earnings per share. Timken’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Timken Company will post 6.11 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were given a $0.33 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.32 annualized dividend and a yield of 1.51%. Timken’s dividend payout ratio (DPR) is currently 25.14%.

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.