ClariVest Asset Management LLC increased its position in Timken Co (NYSE:TKR) by 33.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 209,164 shares of the industrial products company’s stock after buying an additional 52,260 shares during the quarter. ClariVest Asset Management LLC’s holdings in Timken were worth $7,807,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in TKR. Private Capital Group LLC boosted its stake in shares of Timken by 41.3% in the fourth quarter. Private Capital Group LLC now owns 2,289 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 669 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Timken by 3,876.6% in the third quarter. Meeder Asset Management Inc. now owns 3,738 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 3,644 shares during the period. Cerebellum GP LLC boosted its stake in shares of Timken by 38.4% in the fourth quarter. Cerebellum GP LLC now owns 5,263 shares of the industrial products company’s stock valued at $196,000 after purchasing an additional 1,460 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Timken in the third quarter valued at $215,000. Finally, HM Payson & Co. purchased a new position in shares of Timken in the third quarter valued at $223,000. Institutional investors and hedge funds own 79.77% of the company’s stock.
Several brokerages have recently weighed in on TKR. Zacks Investment Research downgraded shares of Timken from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Bank of America upgraded shares of Timken from a “neutral” rating to a “buy” rating and set a $40.15 target price for the company in a research note on Sunday, December 9th. Finally, ValuEngine upgraded shares of Timken from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $52.43.
Timken (NYSE:TKR) last posted its quarterly earnings results on Thursday, February 7th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). The company had revenue of $910.10 million during the quarter, compared to analyst estimates of $924.65 million. Timken had a net margin of 8.46% and a return on equity of 20.54%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 earnings per share. On average, research analysts predict that Timken Co will post 4.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Wednesday, February 20th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, February 19th. This represents a $1.12 annualized dividend and a yield of 2.66%. Timken’s dividend payout ratio is presently 26.79%.
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Timken Company Profile
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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