Skylands Capital LLC Reduces Position in The Timken Company (NYSE:TKR)

Skylands Capital LLC decreased its holdings in The Timken Company (NYSE:TKR) by 45.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,750 shares of the industrial products company’s stock after selling 4,800 shares during the period. Skylands Capital LLC’s holdings in Timken were worth $461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Provident Investment Management Inc. purchased a new stake in shares of Timken during the third quarter worth $23,408,000. Stansberry Asset Management LLC purchased a new position in Timken during the third quarter valued at approximately $16,422,000. Atlantic Investment Management Inc. increased its holdings in Timken by 69.4% during the 3rd quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock worth $38,222,000 after acquiring an additional 213,000 shares during the period. Invesco Ltd. lifted its stake in Timken by 31.9% in the 3rd quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock worth $50,015,000 after purchasing an additional 164,421 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Timken in the 4th quarter valued at $12,398,000. Institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

NYSE:TKR opened at $91.88 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.79. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The firm has a market cap of $6.47 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.18 and a beta of 1.54. The business has a 50 day moving average price of $85.43 and a 200-day moving average price of $79.59.

Timken (NYSE:TKR) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.06 billion. Timken had a return on equity of 19.57% and a net margin of 8.26%. Timken’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 EPS. Equities research analysts predict that The Timken Company will post 6.02 earnings per share for the current year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, February 16th. Timken’s dividend payout ratio is currently 24.18%.

Analyst Ratings Changes

Several research analysts recently weighed in on TKR shares. Oppenheimer restated an “outperform” rating and issued a $100.00 price objective (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. DA Davidson started coverage on Timken in a research report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price target on the stock. Evercore ISI lowered Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a research note on Tuesday, February 20th. Morgan Stanley assumed coverage on Timken in a report on Monday, January 8th. They set an “equal weight” rating and a $74.00 price objective on the stock. Finally, The Goldman Sachs Group upped their target price on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Timken presently has a consensus rating of “Hold” and an average target price of $85.90.

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.