Olstein Capital Management L.P. Acquires 2,500 Shares of The Timken Company (NYSE:TKR)

Olstein Capital Management L.P. raised its stake in shares of The Timken Company (NYSE:TKR) by 17.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,000 shares of the industrial products company’s stock after acquiring an additional 2,500 shares during the period. Olstein Capital Management L.P.’s holdings in Timken were worth $1,213,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TKR. Coastline Trust Co bought a new position in Timken during the third quarter valued at approximately $29,000. Livelsberger Financial Advisory purchased a new stake in Timken during the 3rd quarter valued at $32,000. UMB Bank n.a. lifted its holdings in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Timken in the 2nd quarter worth $44,000. Finally, Brooklyn Investment Group bought a new stake in shares of Timken in the third quarter worth $74,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Transactions at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

Timken Stock Performance

NYSE:TKR opened at $76.61 on Friday. The stock has a 50-day moving average price of $74.79 and a 200 day moving average price of $79.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The stock has a market capitalization of $5.37 billion, a P/E ratio of 15.93, a P/E/G ratio of 0.99 and a beta of 1.39.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. Equities research analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.78%. Timken’s dividend payout ratio (DPR) is 28.27%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TKR. DA Davidson lowered their target price on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Oppenheimer dropped their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. 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. Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $82.00 to $93.00 in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.40.

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.