Beese Fulmer Investment Management Inc. raised its stake in Timken Co (NYSE:TKR) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,887 shares of the company’s stock after buying an additional 800 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Timken were worth $740,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Boston Advisors acquired a new position in shares of Timken during the fourth quarter valued at $8,197,000. Simplex Trading boosted its position in shares of Timken by 375.0% in the fourth quarter. Simplex Trading now owns 19 shares of the company’s stock valued at $0 after buying an additional 15 shares during the period. Rathbone Brothers boosted its position in shares of Timken by 11.3% in the fourth quarter. Rathbone Brothers now owns 17,800 shares of the company’s stock valued at $441,000 after buying an additional 1,800 shares during the period. Alpha Windward acquired a new position in shares of Timken during the fourth quarter valued at $389,000. Finally, Nisa Investment Advisors boosted its position in shares of Timken by 51.0% in the fourth quarter. Nisa Investment Advisors now owns 40,580 shares of the company’s stock valued at $1,160,000 after buying an additional 13,700 shares during the period.
Timken Co (NYSE:TKR) traded down 1.51% during midday trading on Monday, reaching $26.15. 837,519 shares of the company traded hands. Timken Co has a 1-year low of $22.22 and a 1-year high of $43.56. The firm has a 50-day moving average of $26.56 and a 200-day moving average of $29.96. The stock has a market capitalization of $2.17 billion and a P/E ratio of 198.11.
Several brokerages have recently weighed in on TKR. Jefferies Group reiterated a “buy” rating and issued a $50.00 price objective (down previously from $60.00) on shares of Timken in a research note on Thursday, December 3rd. Stifel Nicolaus reduced their target price on shares of Timken from $41.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Zacks Investment Research lowered shares of Timken from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. Finally, BB&T Corp. reissued a “hold” rating on shares of Timken in a report on Tuesday, January 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.50.
The Timken Company (NYSE:TKR) 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. The Company’s industrial brands include Timken, Fafnir, Philadelphia Gear, Drives and Interlube. The Company sells products and services to the following market sectors: industrial equipment, construction, agriculture, rail, aerospace and defense, automotive, heavy truck and energy.