Mutual of America Capital Management LLC Has $2.41 Million Stock Holdings in The Timken Company (NYSE:TKR)

Mutual of America Capital Management LLC cut its holdings in shares of The Timken Company (NYSE:TKR) by 2.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 33,705 shares of the industrial products company’s stock after selling 790 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Timken were worth $2,406,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its position in Timken by 5.1% during the 4th quarter. QRG Capital Management Inc. now owns 54,399 shares of the industrial products company’s stock worth $3,882,000 after buying an additional 2,664 shares during the period. Proficio Capital Partners LLC acquired a new stake in Timken during the 4th quarter worth approximately $3,101,000. Phocas Financial Corp. bought a new position in Timken during the 4th quarter worth approximately $550,000. Bank of New York Mellon Corp raised its holdings in Timken by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 717,278 shares of the industrial products company’s stock worth $51,192,000 after purchasing an additional 50,519 shares during the last quarter. Finally, Skylands Capital LLC bought a new position in Timken during the 4th quarter worth approximately $2,184,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Performance

NYSE TKR opened at $77.02 on Friday. The company has a fifty day simple moving average of $77.67 and a 200 day simple moving average of $79.14. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company has a market cap of $5.39 billion, a P/E ratio of 15.44, a PEG ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared 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 yield of 1.77%. The ex-dividend date was Tuesday, February 25th. Timken’s payout ratio is currently 27.25%.

Analyst Ratings Changes

Several research analysts have issued reports on TKR shares. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. KeyCorp restated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Citigroup lowered their price target 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. Finally, Morgan Stanley raised their price target on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Timken has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

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.