Mutual of America Capital Management LLC Has $2.41 Million Position in The Timken Company (NYSE:TKR)

Mutual of America Capital Management LLC reduced its stake in The Timken Company (NYSE:TKR) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,705 shares of the industrial products company’s stock after selling 790 shares during the period. Mutual of America Capital Management LLC’s holdings in Timken were worth $2,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its holdings in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares during the last quarter. State Street Corp increased its holdings in shares of Timken by 3.5% in the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after purchasing an additional 66,208 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after acquiring an additional 434,800 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Timken by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock valued at $90,477,000 after acquiring an additional 5,970 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Timken by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company’s stock valued at $55,928,000 after acquiring an additional 30,411 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Trading Up 0.6 %

TKR opened at $77.02 on Friday. The company’s 50 day moving average is $77.67 and its 200-day moving average is $79.14. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71. 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 market cap of $5.39 billion, a P/E ratio of 15.44, a PEG ratio of 1.51 and a beta of 1.37.

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

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.77%. Timken’s payout ratio is currently 27.25%.

Insider Activity

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TKR has been the topic of several research reports. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Citigroup decreased their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI upped their price target on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.70.

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.