Proficio Capital Partners LLC Invests $3.10 Million in The Timken Company (NYSE:TKR)

Proficio Capital Partners LLC acquired a new stake in shares of The Timken Company (NYSE:TKR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 43,453 shares of the industrial products company’s stock, valued at approximately $3,101,000. Proficio Capital Partners LLC owned 0.06% of Timken as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp increased its position in Timken by 0.6% during the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after buying an additional 144 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Timken by 8.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 158 shares in the last quarter. WESCAP Management Group Inc. raised its position in shares of Timken by 1.1% in the third quarter. WESCAP Management Group Inc. now owns 17,433 shares of the industrial products company’s stock worth $1,469,000 after acquiring an additional 186 shares during the period. Sheets Smith Wealth Management raised its holdings in Timken by 3.4% in the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 190 shares during the period. Finally, Principal Securities Inc. raised its stake in shares of Timken by 7.8% during the 4th quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company’s stock worth $204,000 after buying an additional 207 shares during the period. Institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TKR shares. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Morgan Stanley upped their price target on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Citigroup dropped their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

Timken Trading Down 0.8 %

TKR opened at $74.56 on Wednesday. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. 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 firm has a market capitalization of $5.22 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.51 and a beta of 1.37. The firm’s 50 day moving average is $78.13 and its 200-day moving average is $78.57.

Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Analysts expect that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken’s payout ratio is currently 27.25%.

Insider Buying and Selling at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is owned by company insiders.

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.