Fox Run Management L.L.C. Takes $638,000 Position in The Timken Company (NYSE:TKR)

Fox Run Management L.L.C. purchased a new stake in shares of The Timken Company (NYSE:TKR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,933 shares of the industrial products company’s stock, valued at approximately $638,000.

Several other large investors have also recently bought and sold shares of the business. Fairway Wealth LLC purchased a new position in Timken during the 4th quarter valued at about $29,000. Amundi grew its position in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Timken in the 3rd quarter worth approximately $74,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Timken during the 4th quarter valued at $109,000. Finally, AlphaQuest LLC grew its holdings in shares of Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 1,559 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TKR has been the subject of a number of research reports. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup cut their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley boosted their target price on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Evercore ISI lifted their price objective 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, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and increased their target price for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Timken Price Performance

NYSE TKR opened at $76.30 on Tuesday. The stock has a 50-day simple moving average of $78.25 and a 200 day simple moving average of $78.41. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The stock has a market capitalization of $5.34 billion, a PE ratio of 15.29, a P/E/G ratio of 1.51 and a beta of 1.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

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

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 1.78%. Timken’s dividend payout ratio is 27.25%.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares in the company, 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 legal filing with the SEC, which is available at this link. Insiders own 8.70% of the company’s stock.

About Timken

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.