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

Olstein Capital Management L.P. boosted its stake in shares of The Timken Company (NYSE:TKR) by 17.2% during the 4th quarter, HoldingsChannel reports. The fund owned 17,000 shares of the industrial products company’s stock after purchasing an additional 2,500 shares during the period. Olstein Capital Management L.P.’s holdings in Timken were worth $1,213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its position in shares of Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares during the last quarter. State Street Corp boosted its stake in Timken by 3.5% during the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after buying an additional 66,208 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after acquiring an additional 434,800 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Timken by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock worth $90,477,000 after acquiring an additional 5,970 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Timken by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 649,952 shares of the industrial products company’s stock worth $54,784,000 after acquiring an additional 1,989 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Oppenheimer reduced their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $82.00 to $93.00 in a research note on Tuesday, December 17th. Finally, DA Davidson lowered their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Five research 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.40.

Timken Stock Down 0.2 %

NYSE:TKR opened at $76.61 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71. The company has a 50-day moving average of $74.79 and a 200 day moving average of $79.71. The firm has a market cap of $5.37 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39.

Timken (NYSE:TKR) last posted its quarterly 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 business had revenue of $1.13 billion during 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 revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. As a group, research analysts anticipate that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.78%. Timken’s dividend payout ratio is presently 28.27%.

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.