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 shares of The Timken Company (NYSE:TKR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 48,480 shares of the industrial products company’s stock, valued at approximately $4,239,000. Baker Ellis Asset Management LLC owned 0.07% of Timken as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TKR. Norges Bank bought a new stake in shares of Timken during the fourth quarter worth approximately $56,995,000. Fiduciary Management Inc. WI grew its position in Timken by 94.7% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after buying an additional 551,097 shares in the last quarter. Provident Investment Management Inc. bought a new position in Timken during the 3rd quarter worth $23,408,000. Stansberry Asset Management LLC acquired a new position in Timken in the 3rd quarter valued at $16,422,000. Finally, Atlantic Investment Management Inc. lifted its position in shares of Timken by 69.4% during the 3rd quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock valued at $38,222,000 after acquiring an additional 213,000 shares during the period. Institutional investors own 89.08% of the company’s stock.

Timken Trading Up 0.3 %

NYSE TKR traded up $0.21 on Friday, hitting $80.13. The company’s stock had a trading volume of 666,432 shares, compared to its average volume of 363,247. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The Timken Company has a 1-year low of $65.71 and a 1-year high of $95.08. The company’s 50-day moving average is $86.20 and its 200 day moving average is $83.84. The firm has a market cap of $5.64 billion, a PE ratio of 15.26, a PEG ratio of 1.70 and a beta of 1.50.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company posted $2.09 EPS. The company’s revenue was down 5.7% on a year-over-year basis. As a group, analysts predict that The Timken Company will post 6.2 earnings per share for the current fiscal year.

Timken Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Transactions at Timken

In other news, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 84,995 shares in the company, valued at $7,590,053.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Philip D. Fracassa sold 10,000 shares of the stock in a transaction on 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 $9,473,360.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of 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 sold a total of 59,006 shares of company stock worth $5,269,636 over the last three months. 8.70% of the stock is owned by company insiders.

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.