Baker Ellis Asset Management LLC Has $4.64 Million Stock Position in The Timken Company (NYSE:TKR)

Baker Ellis Asset Management LLC grew its position in shares of The Timken Company (NYSE:TKR) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,590 shares of the industrial products company’s stock after acquiring an additional 3,635 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Timken were worth $4,642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TKR. Fairway Wealth LLC bought a new stake in shares of Timken during the fourth quarter worth about $29,000. Amundi raised its stake in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares during the last quarter. Parvin Asset Management LLC bought a new position in shares of Timken in the fourth quarter valued at approximately $66,000. UMB Bank n.a. boosted its position in shares of Timken by 400.0% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock valued at $72,000 after buying an additional 800 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock worth $82,000 after buying an additional 847 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Stock Up 0.7%

TKR opened at $73.15 on Wednesday. The Timken Company has a 12 month low of $56.20 and a 12 month high of $90.49. The company has a market cap of $5.12 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $66.59 and a 200 day moving average of $72.85.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. Timken’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 earnings per share. On average, sell-side analysts expect that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from Timken’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, May 13th. Timken’s payout ratio is presently 30.17%.

Analysts Set New Price Targets

Several research analysts recently weighed in on TKR shares. DA Davidson boosted their price target on shares of Timken from $66.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Evercore ISI cut their target price on Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, May 19th. Morgan Stanley dropped their price target on Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Citigroup boosted their price objective on Timken from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, Oppenheimer dropped their target price on shares of Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.50.

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.