Polymer Capital Management US LLC Buys New Shares in The Timken Company (NYSE:TKR)

Polymer Capital Management US LLC purchased a new stake in shares of The Timken Company (NYSE:TKR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,800 shares of the industrial products company’s stock, valued at approximately $699,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in Timken by 13.0% in the 4th quarter. Federated Hermes Inc. now owns 245,668 shares of the industrial products company’s stock worth $17,533,000 after buying an additional 28,246 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in Timken in the 4th quarter worth $566,000. Foundry Partners LLC lifted its stake in Timken by 6.5% in the fourth quarter. Foundry Partners LLC now owns 52,711 shares of the industrial products company’s stock worth $3,762,000 after purchasing an additional 3,197 shares during the last quarter. World Investment Advisors boosted its position in Timken by 9.4% during the fourth quarter. World Investment Advisors now owns 5,313 shares of the industrial products company’s stock valued at $379,000 after buying an additional 458 shares during the period. Finally, National Bank of Canada FI bought a new position in shares of Timken during the fourth quarter valued at about $335,000. Institutional investors own 89.08% of the company’s stock.

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.70% of the stock is owned by insiders.

Timken Stock Performance

Timken stock opened at $59.88 on Monday. The stock’s 50 day moving average is $77.08 and its 200 day moving average is $77.81. The company has a market capitalization of $4.19 billion, a P/E ratio of 12.00, a PEG ratio of 1.51 and a beta of 1.28. The Timken Company has a twelve month low of $58.26 and a twelve month high of $94.71. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. On average, equities research analysts predict that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, February 25th. Timken’s payout ratio is 27.25%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup decreased their price target on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley upped their price target on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. The Goldman Sachs Group cut their price target on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price objective (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Finally, Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.82.

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.