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

Tributary Capital Management LLC lowered its holdings in The Timken Company (NYSE:TKR) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,590 shares of the industrial products company’s stock after selling 350 shares during the period. 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 hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Timken in the second quarter valued at $1,394,000. Hsbc Holdings PLC lifted its stake in Timken by 102.5% in the second quarter. Hsbc Holdings PLC now owns 12,186 shares of the industrial products company’s stock valued at $979,000 after acquiring an additional 6,167 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Timken in the second quarter valued at $416,000. Canada Pension Plan Investment Board acquired a new stake in Timken in the second quarter valued at $112,000. Finally, Bank of Montreal Can lifted its stake in shares of Timken by 5.4% during the 2nd quarter. Bank of Montreal Can now owns 34,890 shares of the industrial products company’s stock worth $2,796,000 after buying an additional 1,776 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TKR shares. Oppenheimer cut their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. DA Davidson cut 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. Finally, Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $82.00 to $93.00 in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.40.

Timken Price Performance

Shares of Timken stock opened at $76.61 on Friday. 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 twelve month low of $69.35 and a twelve month high of $94.71. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39. The company has a 50-day simple moving average of $74.79 and a two-hundred day simple moving average of $79.71.

Timken (NYSE:TKR) last released 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). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business earned $1.55 earnings per share. Timken’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Dividend Announcement

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

Insider Buying and Selling at Timken

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

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.