Baker Ellis Asset Management LLC Invests $4.24 Million in The Timken Company (NYSE:TKR)

Baker Ellis Asset Management LLC acquired a new position in The Timken Company (NYSE:TKR) in the first quarter, HoldingsChannel reports. The firm acquired 48,480 shares of the industrial products company’s stock, valued at approximately $4,239,000.

Other hedge funds have also recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Timken in the 4th quarter worth approximately $12,398,000. WCM Investment Management LLC lifted its holdings in shares of Timken by 8.7% in the 4th quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company’s stock worth $16,443,000 after acquiring an additional 16,322 shares during the last quarter. Duality Advisers LP lifted its holdings in shares of Timken by 226.3% in the 4th quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company’s stock worth $2,227,000 after acquiring an additional 19,274 shares during the last quarter. Fiduciary Management Inc. WI raised its holdings in Timken by 94.7% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after buying an additional 551,097 shares during the last quarter. Finally, Foundry Partners LLC raised its holdings in Timken by 5.6% during the 4th quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company’s stock valued at $6,999,000 after buying an additional 4,598 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Insider Transactions at Timken

In other news, CFO Philip D. Fracassa sold 10,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the sale, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Timken news, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The disclosure for this sale can be found here. Insiders have sold 59,006 shares of company stock valued at $5,269,636 in the last three months. 8.70% of the stock is currently owned by company insiders.

Timken Trading Up 0.3 %

Timken stock traded up $0.21 during mid-day trading on Friday, reaching $80.13. 666,432 shares of the company traded hands, compared to its average volume of 363,247. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02. The firm’s 50 day moving average price is $86.20 and its 200 day moving average price is $83.84. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.70 and a beta of 1.50. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08.

Timken (NYSE:TKR) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 EPS. On average, analysts anticipate that The Timken Company will post 6.2 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.70%. Timken’s dividend payout ratio is currently 25.90%.

Analyst Ratings Changes

A number of research firms recently commented on TKR. Stifel Nicolaus upped their price target on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Loop Capital upped their price target on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Oppenheimer reiterated an “outperform” rating and set a $100.00 price target (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Raymond James began coverage on shares of Timken in a report on Friday. They set a “market perform” rating for the company. Finally, KeyCorp upped their price target on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.91.

Timken 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.