Paloma Partners Management Co Invests $388,000 in The Timken Company (NYSE:TKR)

Paloma Partners Management Co bought a new stake in shares of The Timken Company (NYSE:TKR) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 4,601 shares of the industrial products company’s stock, valued at approximately $388,000.

Other hedge funds have also modified their holdings of the company. Coastline Trust Co purchased a new stake in shares of Timken during the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after buying an additional 343 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Timken during the 3rd quarter valued at about $32,000. UMB Bank n.a. raised 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. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Timken during the 2nd quarter valued at about $44,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Timken

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on TKR. Citigroup started coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. DA Davidson lowered their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $87.00 to $91.00 in a research note on Wednesday, November 13th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Oppenheimer lowered their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $90.00.

Timken Price Performance

Shares of TKR opened at $77.27 on Thursday. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.16 and a beta of 1.38. The stock has a 50 day moving average of $80.72 and a 200-day moving average of $82.09. 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 52 week low of $72.35 and a 52 week high of $94.71.

Timken (NYSE:TKR) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.76%. Timken’s dividend payout ratio is currently 28.27%.

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.