New York State Common Retirement Fund Buys 3,116 Shares of The Timken Company (NYSE:TKR)

New York State Common Retirement Fund grew its stake in The Timken Company (NYSE:TKR) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,827 shares of the industrial products company’s stock after buying an additional 3,116 shares during the quarter. New York State Common Retirement Fund owned approximately 0.29% of Timken worth $14,547,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC increased its holdings in Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after acquiring an additional 434,800 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Timken by 3,179.1% in the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after purchasing an additional 187,946 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after purchasing an additional 107,350 shares during the period. Royce & Associates LP increased its stake in shares of Timken by 73.2% in the third quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock worth $16,054,000 after purchasing an additional 80,513 shares in the last quarter. Finally, State Street Corp raised its position in shares of Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after purchasing an additional 66,208 shares during the period. Institutional investors own 89.08% of the company’s stock.

Timken Stock Down 3.0 %

NYSE TKR opened at $81.26 on Monday. The stock has a 50 day moving average price of $76.61 and a 200-day moving average price of $79.32. The Timken Company has a one year low of $69.35 and a one year high of $94.71. The company has a market capitalization of $5.70 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.51 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

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

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.34 per share. The ex-dividend date is Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 1.67%. Timken’s payout ratio is currently 27.25%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. DA Davidson dropped their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Morgan Stanley upped their price objective on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. 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 note on Friday, December 6th. Finally, Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Insider Buying and Selling at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.70% of the company’s stock.

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.