17,576 Shares in Timken Co (TKR) Purchased by Highbridge Capital Management LLC

Highbridge Capital Management LLC acquired a new stake in shares of Timken Co (NYSE:TKR) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,576 shares of the industrial products company’s stock, valued at approximately $801,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. American International Group Inc. boosted its holdings in Timken by 0.9% during the fourth quarter. American International Group Inc. now owns 141,340 shares of the industrial products company’s stock valued at $6,947,000 after purchasing an additional 1,200 shares in the last quarter. Advisor Group Inc. boosted its holdings in Timken by 33.6% during the fourth quarter. Advisor Group Inc. now owns 5,903 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 1,484 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in Timken by 9.6% during the fourth quarter. OppenheimerFunds Inc. now owns 17,354 shares of the industrial products company’s stock valued at $853,000 after purchasing an additional 1,522 shares in the last quarter. Swiss National Bank boosted its holdings in Timken by 1.6% during the fourth quarter. Swiss National Bank now owns 119,300 shares of the industrial products company’s stock valued at $5,864,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in Timken by 1,368.0% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 2,052 shares in the last quarter. 77.21% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on TKR shares. Zacks Investment Research downgraded Timken from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Vertical Research raised Timken from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Bank of America lifted their target price on shares of Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a research note on Tuesday, May 22nd. Finally, Stifel Nicolaus upgraded shares of Timken from a “hold” rating to a “buy” rating and lifted their target price for the company from $52.00 to $60.00 in a research note on Monday, May 28th. Three equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $52.60.
In related news, Director Frank C. Sullivan acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 3rd. The stock was purchased at an average price of $44.85 per share, for a total transaction of $89,700.00. Following the transaction, the director now directly owns 46,932 shares of the company’s stock, valued at approximately $2,104,900.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Philip D. Fracassa sold 3,739 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $47.71, for a total transaction of $178,387.69. Following the completion of the transaction, the chief financial officer now owns 43,534 shares of the company’s stock, valued at approximately $2,077,007.14. The disclosure for this sale can be found here. Insiders own 11.15% of the company’s stock.

Timken opened at $44.60 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.34 and a quick ratio of 1.24. Timken Co has a fifty-two week low of $41.85 and a fifty-two week high of $55.65. The company has a market capitalization of $3.45 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.26 and a beta of 1.51.
Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.17. Timken had a net margin of 7.71% and a return on equity of 16.55%. The firm had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $836.56 million. During the same quarter in the previous year, the company posted $0.55 EPS. Timken’s revenue was up 25.4% on a year-over-year basis. sell-side analysts forecast that Timken Co will post 3.97 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 4th. Investors of record on Friday, May 18th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.51%. The ex-dividend date was Thursday, May 17th. This is a boost from Timken’s previous quarterly dividend of $0.27. Timken’s payout ratio is 42.59%.