Cookson Peirce & Co. Inc. Grows Position in Timken Company (The) (NYSE:TKR)

Cookson Peirce & Co. Inc. increased its position in shares of Timken Company (The) (NYSE:TKR) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,167 shares of the industrial products company’s stock after purchasing an additional 413 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Timken were worth $443,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Timken by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company’s stock valued at $477,681,000 after buying an additional 180,705 shares during the period. Dimensional Fund Advisors LP boosted its position in Timken by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company’s stock valued at $159,403,000 after buying an additional 124,676 shares during the period. Victory Capital Management Inc. boosted its position in Timken by 108.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company’s stock valued at $132,372,000 after buying an additional 959,672 shares during the period. Earnest Partners LLC boosted its position in Timken by 0.3% in the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company’s stock valued at $92,433,000 after buying an additional 3,594 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Timken by 5.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company’s stock valued at $91,711,000 after buying an additional 63,485 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TKR has been the subject of several research reports. Evercore ISI lowered their price objective on shares of Timken from $102.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, May 19th. DA Davidson boosted their price target on shares of Timken from $71.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Oppenheimer reduced their price target on shares of Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, Citigroup boosted their price target on shares of Timken from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.90.

Timken Trading Down 1.5%

Shares of Timken stock opened at $75.94 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. Timken Company has a 12-month low of $56.20 and a 12-month high of $87.52. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.69 and a beta of 1.30. The firm’s 50 day simple moving average is $75.57 and its two-hundred day simple moving average is $73.12.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.08. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Timken had a net margin of 6.86% and a return on equity of 11.78%. Timken’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. Analysts predict that Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 19th. Timken’s dividend payout ratio is 31.82%.

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.