Rhumbline Advisers lessened its holdings in shares of Timken Co (NYSE:TKR) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134,700 shares of the industrial products company’s stock after selling 7,681 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Timken worth $6,142,000 at the end of the most recent quarter. 

Several other institutional investors have also modified their holdings of the business. Gateway Investment Advisers LLC raised its position in shares of Timken by 40.0% in the 4th quarter. Gateway Investment Advisers LLC now owns 84,459 shares of the industrial products company’s stock worth $4,151,000 after buying an additional 24,110 shares during the period. Creative Planning purchased a new position in shares of Timken in the 4th quarter worth $210,000. Schwab Charles Investment Management Inc. raised its position in shares of Timken by 6.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 372,400 shares of the industrial products company’s stock worth $18,304,000 after buying an additional 22,474 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Timken in the 4th quarter worth $248,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Timken in the 4th quarter worth $201,000. 77.25% of the stock is currently owned by institutional investors. 

Timken remained flat at $$48.50 during trading hours on Wednesday, according to MarketBeat Ratings. The company had a trading volume of 803,494 shares, compared to its average volume of 791,201. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.58. The firm has a market cap of $3.76 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.37 and a beta of 1.51. Timken Co has a 52-week low of $41.85 and a 52-week high of $55.65. 

Timken (NYSE:TKR) last announced its earnings results on Tuesday, May 1st. The industrial products company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.17. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $836.56 million. Timken had a return on equity of 16.55% and a net margin of 7.71%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. equities analysts predict that Timken Co will post 3.97 earnings per share for the current fiscal year. 

The firm also recently announced a quarterly dividend, which was paid on Monday, June 4th. Stockholders of record on Friday, May 18th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, May 17th. This is an increase from Timken’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 2.31%. Timken’s dividend payout ratio (DPR) is currently 42.59%. 

In other news, CFO Philip D. Fracassa sold 3,739 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $47.71, for a total transaction of $178,387.69. Following the completion of the sale, the chief financial officer now directly owns 43,534 shares in the company, valued at $2,077,007.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank C. Sullivan bought 2,000 shares of the stock in a transaction dated Thursday, May 3rd. The shares were acquired at an average price of $44.85 per share, with a total value of $89,700.00. Following the completion of the purchase, the director now directly owns 46,932 shares of the company’s stock, valued at $2,104,900.20. The disclosure for this purchase can be found here. 11.15% of the stock is owned by company insiders. 

TKR has been the subject of several recent research reports. Bank of America increased their price target on Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a report on Tuesday, May 22nd. Vertical Research upgraded Timken from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Saturday, March 24th. Stifel Nicolaus upgraded Timken from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $60.00 in a report on Monday, May 28th. Finally, ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.60.