The Timken Company (NYSE:TKR) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in The Timken Company (NYSE:TKR) by 11.3% during the fourth quarter, Holdings Channel reports. The fund owned 3,158,690 shares of the industrial products company’s stock after purchasing an additional 320,354 shares during the quarter. American Century Companies Inc.’s holdings in Timken were worth $225,436,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Vestcor Inc acquired a new stake in shares of Timken in the 3rd quarter worth about $560,000. TT International Asset Management LTD grew its position in Timken by 1,075.2% in the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after buying an additional 35,932 shares in the last quarter. Barclays PLC grew its position in Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after buying an additional 59,716 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Timken by 29.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock valued at $4,327,000 after buying an additional 13,697 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in Timken in the 3rd quarter valued at about $734,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Performance

Shares of TKR opened at $74.35 on Friday. The Timken Company has a one year low of $69.35 and a one year high of $94.71. The company has a 50-day moving average of $78.21 and a two-hundred day moving average of $78.44. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.51 and a beta of 1.37. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping 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%. On average, equities research analysts expect that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s payout ratio is 27.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and increased their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup decreased their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Evercore ISI raised their price objective on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded shares of 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

Insiders Place Their Bets

In related 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 transaction of $407,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company’s stock.

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.