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

Victory Capital Management Inc. increased its stake in shares of The Timken Company (NYSE:TKR) by 418.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 882,156 shares of the industrial products company’s stock after buying an additional 711,979 shares during the period. Victory Capital Management Inc.’s holdings in Timken were worth $62,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Timken by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,147 shares of the industrial products company’s stock worth $46,615,000 after buying an additional 3,195 shares in the last quarter. Schechter Investment Advisors LLC boosted its holdings in Timken by 6.3% during the fourth quarter. Schechter Investment Advisors LLC now owns 21,326 shares of the industrial products company’s stock worth $1,522,000 after buying an additional 1,257 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Timken during the fourth quarter worth about $109,000. QRG Capital Management Inc. boosted its holdings in Timken by 5.1% during the fourth quarter. QRG Capital Management Inc. now owns 54,399 shares of the industrial products company’s stock worth $3,882,000 after buying an additional 2,664 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Timken during the fourth quarter worth about $3,101,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Timken Stock Performance

NYSE:TKR opened at $77.02 on Friday. The firm has a 50 day simple moving average of $77.67 and a 200-day simple moving average of $79.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The firm has a market cap of $5.39 billion, a PE ratio of 15.44, a P/E/G ratio of 1.51 and a beta of 1.37. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS 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%. On average, equities analysts expect that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is 27.25%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup cut their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI lifted their target price on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research 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 data from MarketBeat, Timken presently has a consensus rating of “Moderate Buy” and an average price target of $92.70.

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.