Tema Etfs LLC Purchases New Holdings in The Timken Company (NYSE:TKR)

Tema Etfs LLC purchased a new stake in shares of The Timken Company (NYSE:TKR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 87,105 shares of the industrial products company’s stock, valued at approximately $6,217,000. Timken comprises 2.6% of Tema Etfs LLC’s portfolio, making the stock its 5th biggest position. Tema Etfs LLC owned 0.12% of Timken at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC increased its position in shares of Timken by 79.4% during the fourth quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company’s stock valued at $1,915,000 after acquiring an additional 11,876 shares during the last quarter. Barclays PLC boosted its holdings in shares of Timken by 221.6% in the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after acquiring an additional 59,716 shares during the period. Raymond James Financial Inc. bought a new position in shares of Timken in the fourth quarter worth $14,460,000. Janney Montgomery Scott LLC boosted its holdings in shares of Timken by 25.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company’s stock worth $7,644,000 after acquiring an additional 22,003 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Timken in the fourth quarter worth $574,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup raised their price target on Timken from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. The Goldman Sachs Group dropped their price objective on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Oppenheimer dropped their price objective on Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Morgan Stanley dropped their price objective on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Loop Capital dropped their price objective on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Timken currently has an average rating of “Hold” and a consensus target price of $80.20.

Timken Trading Up 1.9%

Shares of TKR stock opened at $73.85 on Friday. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $67.49 and a two-hundred day moving average price of $73.59. The Timken Company has a 12-month low of $56.20 and a 12-month high of $92.34. The firm has a market cap of $5.17 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.

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

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. This is an increase from Timken’s previous quarterly dividend of $0.34. Timken’s payout ratio is currently 30.17%.

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.