KLP Kapitalforvaltning AS Takes Position in The Timken Company (NYSE:TKR)

KLP Kapitalforvaltning AS acquired a new position in The Timken Company (NYSE:TKR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,900 shares of the industrial products company’s stock, valued at approximately $992,000.

Several other large investors have also recently added to or reduced their stakes in the business. Fairway Wealth LLC bought a new position in shares of Timken in the fourth quarter worth $29,000. Amundi grew its position in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Timken during the 4th quarter valued at about $109,000. AlphaQuest LLC raised its position in shares of Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after buying an additional 1,559 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Timken by 88.3% in the 4th quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 880 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Down 2.5 %

TKR stock opened at $71.95 on Monday. 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 capitalization of $5.04 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.51 and a beta of 1.37. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The company’s 50 day simple moving average is $78.08 and its 200-day simple moving average is $78.29.

Timken (NYSE:TKR) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, equities research analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The firm also recently announced 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 was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.89%. Timken’s dividend payout ratio is 27.25%.

Insider Transactions at Timken

In other Timken 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 value of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TKR has been the topic of several recent analyst reports. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Morgan Stanley upped their price objective on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Bank of America raised 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 report on Tuesday, February 4th. Evercore ISI upped their price target on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Citigroup lowered their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Timken has an average rating of “Moderate Buy” and a consensus 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.