Charles Schwab Investment Management Inc. Acquires 3,195 Shares of The Timken Company (NYSE:TKR)

Charles Schwab Investment Management Inc. boosted its position in The Timken Company (NYSE:TKR) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 653,147 shares of the industrial products company’s stock after buying an additional 3,195 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.93% of Timken worth $46,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. M&T Bank Corp grew its position in Timken by 0.6% during the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock worth $2,064,000 after buying an additional 144 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in 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 during the period. WESCAP Management Group Inc. grew its holdings in shares of Timken by 1.1% during the 3rd 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 grew its holdings in shares of Timken by 3.4% during the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 190 shares during the period. Finally, Principal Securities Inc. grew its holdings 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 acquiring an additional 207 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Timken Stock Up 2.7 %

Shares of NYSE TKR opened at $74.58 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The company has a market cap of $5.22 billion, a P/E ratio of 14.95, a PEG ratio of 1.51 and a beta of 1.37. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The firm has a 50-day simple moving average of $78.09 and a two-hundred day simple moving average of $78.77.

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 the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s payout ratio is 27.25%.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

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.