State of Alaska Department of Revenue bought a new stake in shares of Timken Co (NYSE:TKR) in the 4th quarter, HoldingsChannel reports. The firm bought 4,100 shares of the industrial products company’s stock, valued at approximately $201,000.

Other hedge funds have also added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new stake in Timken during the third quarter valued at approximately $382,000. Nomura Holdings Inc. acquired a new stake in Timken during the second quarter valued at approximately $349,000. Parametrica Management Ltd acquired a new stake in Timken during the third quarter valued at approximately $331,000. Lord Abbett & CO. LLC lifted its stake in Timken by 20.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,350,766 shares of the industrial products company’s stock valued at $62,473,000 after purchasing an additional 230,730 shares during the last quarter. Finally, Virginia Retirement Systems ET AL lifted its stake in Timken by 16.8% during the third quarter. Virginia Retirement Systems ET AL now owns 52,100 shares of the industrial products company’s stock valued at $2,529,000 after purchasing an additional 7,500 shares during the last quarter. 79.33% of the stock is owned by institutional investors and hedge funds.

Shares of Timken Co (NYSE:TKR) opened at $43.95 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.59 and a quick ratio of 1.38. The company has a market cap of $3,776.07, a P/E ratio of 17.51, a P/E/G ratio of 1.30 and a beta of 1.44. Timken Co has a 12-month low of $41.78 and a 12-month high of $55.65.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $778.00 million during the quarter, compared to the consensus estimate of $767.98 million. Timken had a net margin of 6.88% and a return on equity of 13.75%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. research analysts forecast that Timken Co will post 2.62 earnings per share for the current year.

TKR has been the subject of several recent research reports. Longbow Research raised shares of Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Zacks Investment Research downgraded shares of Timken from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Jefferies Group upgraded shares of Timken from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Finally, Stifel Nicolaus reduced their price target on shares of Timken from $53.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $52.25.

In related news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the sale, the insider now owns 89,236 shares in the company, valued at approximately $4,439,491. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.08% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This article was first posted by Daily Political and is owned by of Daily Political. If you are viewing this article on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The original version of this article can be viewed at https://www.dailypolitical.com/2018/02/09/state-of-alaska-department-of-revenue-buys-shares-of-4100-timken-co-tkr.html.

About Timken

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Timken Co (NYSE:TKR).

Institutional Ownership by Quarter for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.