Tributary Capital Management LLC Sells 350 Shares of The Timken Company (NYSE:TKR)

Tributary Capital Management LLC trimmed its position in shares of The Timken Company (NYSE:TKR) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,590 shares of the industrial products company’s stock after selling 350 shares during the quarter. Tributary Capital Management LLC’s holdings in Timken were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Coastline Trust Co acquired a new position in shares of Timken during the third quarter worth approximately $29,000. Livelsberger Financial Advisory acquired a new position in shares of Timken during the third quarter worth approximately $32,000. UMB Bank n.a. lifted its position in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Timken in the second quarter valued at approximately $44,000. Finally, Brooklyn Investment Group acquired a new position in Timken in the third quarter valued at approximately $74,000. 89.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TKR. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $95.00 in a report on Friday, December 6th. DA Davidson cut their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $82.00 to $93.00 in a report on Tuesday, December 17th. KeyCorp restated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Finally, Oppenheimer cut 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. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Timken has an average rating of “Moderate Buy” and an average target price of $92.40.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.70% of the stock is owned by insiders.

Timken Stock Down 0.2 %

Shares of TKR stock opened at $76.61 on Friday. The firm has a fifty day moving average of $74.79 and a 200-day moving average of $79.71. The company has a quick ratio of 1.62, a current ratio of 3.00 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 company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 0.99 and a beta of 1.39.

Timken (NYSE:TKR) last issued 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). Timken had a return on equity of 14.82% and a net margin of 7.41%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts predict that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio is 28.27%.

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.