AGF Management Ltd. Acquires 78,498 Shares of The Timken Company (NYSE:TKR)

AGF Management Ltd. boosted its position in The Timken Company (NYSE:TKR) by 17.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 521,576 shares of the industrial products company’s stock after acquiring an additional 78,498 shares during the quarter. AGF Management Ltd. owned 0.74% of Timken worth $37,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TKR. Coastline Trust Co bought a new position in Timken during the third quarter worth $29,000. Fairway Wealth LLC bought a new stake in Timken in the fourth quarter valued at $29,000. Amundi increased its position in shares of Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 174 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Timken during the third quarter worth about $74,000. Finally, Venturi Wealth Management LLC boosted its holdings in Timken by 230.7% during the third quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 759 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Price Performance

Shares of NYSE:TKR opened at $74.72 on Wednesday. The firm has a fifty day moving average price of $77.93 and a 200 day moving average price of $78.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.51 and a beta of 1.37. The Timken Company has a fifty-two week low of $69.35 and a fifty-two week high of $94.71.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (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%. As a group, sell-side analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s payout ratio is currently 27.25%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TKR shares. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Evercore ISI upped their price target 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. Citigroup dropped their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Finally, KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Timken has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken 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 transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is currently owned by insiders.

Timken Company 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.