Sheets Smith Wealth Management Invests $454,000 in The Timken Company (NYSE:TKR)

Sheets Smith Wealth Management bought a new stake in The Timken Company (NYSE:TKR) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 5,662 shares of the industrial products company’s stock, valued at approximately $454,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TKR. GAMMA Investing LLC purchased a new stake in Timken in the 4th quarter valued at $35,000. Anchor Investment Management LLC purchased a new stake in shares of Timken during the 4th quarter worth approximately $58,000. Amica Retiree Medical Trust purchased a new stake in Timken during the third quarter worth $75,000. Quent Capital LLC grew its stake in Timken by 50.4% in the 4th quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 341 shares during the last quarter. Finally, Ramirez Asset Management Inc. purchased a new position in Timken during the 3rd quarter valued at about $81,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Trading Up 0.6 %

Timken stock traded up $0.50 during trading on Monday, reaching $89.99. The company had a trading volume of 269,851 shares, compared to its average volume of 504,178. The Timken Company has a 12-month low of $65.71 and a 12-month high of $95.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. The stock’s 50 day moving average price is $86.12 and its two-hundred day moving average price is $80.06. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. As a group, equities analysts expect that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Timken’s previous quarterly dividend of $0.33. The ex-dividend date is Monday, May 13th. Timken’s dividend payout ratio (DPR) is 25.90%.

Wall Street Analysts Forecast Growth

TKR has been the topic of several research reports. Morgan Stanley started coverage on shares of Timken in a research report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price target on the stock. Stifel Nicolaus boosted their price target on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Loop Capital increased their price objective on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price for the company. in a research note on Tuesday, February 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $100.00 price target (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Timken presently has an average rating of “Hold” and an average price target of $87.09.

About Timken

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.