Kornitzer Capital Management Inc. KS Raises Stock Position in The Timken Company (NYSE:TKR)

Kornitzer Capital Management Inc. KS increased its holdings in shares of The Timken Company (NYSE:TKR) by 66.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,890 shares of the industrial products company’s stock after purchasing an additional 2,760 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Timken were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Coastline Trust Co purchased a new position in shares of Timken during the third quarter worth $29,000. Brooklyn Investment Group purchased a new position in shares of Timken during the third quarter worth $74,000. Blue Trust Inc. raised its holdings in shares of Timken by 20.0% during the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 166 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of 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. Finally, Covestor Ltd raised its holdings in shares of Timken by 20.0% during the third quarter. Covestor Ltd now owns 1,786 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.70% of the company’s stock.

Timken Stock Performance

TKR opened at $83.25 on Thursday. The firm has a market capitalization of $5.84 billion, a PE ratio of 16.68, a PEG ratio of 1.49 and a beta of 1.39. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The firm’s 50-day moving average price is $76.34 and its 200 day moving average price is $79.30. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share 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 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Tuesday, February 25th. Timken’s dividend payout ratio is presently 27.25%.

Wall Street Analyst Weigh In

TKR has been the subject of several recent research reports. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. DA Davidson cut their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. 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 report on Wednesday. Finally, Citigroup cut their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.70.

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.