Strs Ohio Has $18.87 Million Stake in The Timken Company (NYSE:TKR)

Strs Ohio, the State Teachers Retirement System of Ohio, reduced its investment in The Timken Company (NYSE: TKR) by 0.4% or approximately 907 shares during the fourth quarter of 2022, according to a recent filing with the Securities and Exchange Commission (SEC). As of the end of the quarter, the pension fund held a total of 235,423 shares of Timken's common stock.

The Timken Company is a leading global manufacturer of engineered bearings and power transmission products, with operations in 33 countries and approximately 15,000 employees worldwide. The company's products are used in various industries, including automotive, aerospace, industrial, and mining.

Strs Ohio is one of the largest public pension funds in the United States, with assets totaling over $65 billion as of December 31, 2021. The fund's primary mission is to provide retirement, disability, and survivor benefits to more than 135,000 active and retired teachers and their families in Ohio.

The pension fund's investment in The Timken Company represents a small fraction of its overall portfolio, but it reflects the fund's confidence in the industrial products company's long-term growth prospects. The sale of 907 shares during the quarter may have been a strategic move to rebalance the portfolio or to raise cash for other investments, but the exact reason for the sale is not clear without additional information from Strs Ohio.

The Timken Company's stock price has been relatively stable over the past year, with a 52-week high of $93.53 and a low of $69.55. As of February 6, 2023, the stock was trading at around $83 per share, up from the previous quarter's average price of around $80 per share.

Investors and analysts will be watching closely to see if Strs Ohio's reduced stake in The Timken Company is a sign of broader trends in the pension fund's investment strategy or a one-time adjustment. The company's financial performance and industry conditions will also be key factors to watch in the coming quarters.