Ardevora Asset Management LLP Buys Shares of 685,900 Timken Company (The) (TKR)

Ardevora Asset Management LLP bought a new position in Timken Company (The) (NYSE:TKR) during the fourth quarter, Holdings Channel reports. The institutional investor bought 685,900 shares of the company’s stock, valued at approximately $27,230,000. Ardevora Asset Management LLP owned 0.88% of Timken Company (The) at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vulcan Value Partners LLC increased its stake in shares of Timken Company (The) by 29.0% in the second quarter. Vulcan Value Partners LLC now owns 1,548,244 shares of the company’s stock worth $47,469,000 after buying an additional 347,891 shares during the period. First Trust Advisors LP bought a new stake in shares of Timken Company (The) during the third quarter worth about $12,178,000. Vanguard Group Inc. increased its stake in shares of Timken Company (The) by 5.9% in the second quarter. Vanguard Group Inc. now owns 5,403,114 shares of the company’s stock worth $165,659,000 after buying an additional 300,893 shares during the period. LSV Asset Management increased its stake in shares of Timken Company (The) by 10.7% in the third quarter. LSV Asset Management now owns 1,603,275 shares of the company’s stock worth $56,339,000 after buying an additional 155,530 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Timken Company (The) by 6.3% in the third quarter. BlackRock Fund Advisors now owns 2,563,658 shares of the company’s stock worth $90,087,000 after buying an additional 153,029 shares during the period. 75.87% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Timken Company (The) (NYSE:TKR)

Shares of Timken Company (NYSE:TKR) traded up 0.89% during trading on Monday, reaching $45.55. The company had a trading volume of 1,555,779 shares. The firm has a 50-day moving average of $43.22 and a 200 day moving average of $37.36. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 23.72 and a beta of 1.39. Timken Company has a 52 week low of $28.32 and a 52 week high of $46.45.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Wednesday, February 22nd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 17th. This represents a $1.04 annualized dividend and a yield of 2.28%. Timken Company (The)’s dividend payout ratio (DPR) is currently 54.17%.

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A number of analysts have issued reports on TKR shares. Zacks Investment Research raised Timken Company (The) from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Friday, January 20th. Evercore ISI upgraded Timken Company (The) from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Monday, November 7th. Bank of America Corporation cut Timken Company (The) from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Thursday, November 17th. They noted that the move was a valuation call. Stifel Nicolaus cut Timken Company (The) from a “buy” rating to a “hold” rating and increased their price target for the stock from $37.00 to $42.00 in a report on Thursday, December 8th. Finally, Goldman Sachs Group, Inc. (The) upgraded Timken Company (The) from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, January 27th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Timken Company (The) currently has a consensus rating of “Buy” and an average target price of $42.25.

Timken Company (The) Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.

5 Day Chart for NYSE:TKR

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Timken Company (The) (NYSE:TKR).

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