Zacks Investment Research downgraded shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a buy rating to a hold rating in a report released on Friday.
According to Zacks, “Park Ohio Holdings Corp. operates through two segments, Manufactured Products and Logistics, which serve a wide variety of industrial markets. Manufactured Products designs and manufactures a broad range of high quality products engineered for specific customer applications. The principal customers of Manufactured Products are original equipment manufacturers and end-users in the automotive, railroad, truck and aerospace industries. Logistics is a leading national supplier of fasteners (e.g., nuts, bolts and screws) and other industrial products. “
PKOH has been the subject of several other reports. ValuEngine upgraded Park-Ohio Holdings Corp. from a buy rating to a strong-buy rating in a research note on Wednesday, September 6th. FBR & Co reiterated a hold rating on shares of Park-Ohio Holdings Corp. in a research note on Thursday, October 5th. BidaskClub upgraded Park-Ohio Holdings Corp. from a sell rating to a hold rating in a research note on Wednesday, August 16th. Finally, B. Riley reiterated a neutral rating on shares of Park-Ohio Holdings Corp. in a research note on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $44.67.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at $40.60 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.36 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $525.03, a price-to-earnings ratio of 13.83 and a beta of 3.52. Park-Ohio Holdings Corp. has a 12 month low of $34.25 and a 12 month high of $47.80.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $352.20 million during the quarter, compared to analysts’ expectations of $345.17 million. Park-Ohio Holdings Corp. had a return on equity of 14.79% and a net margin of 2.16%. research analysts anticipate that Park-Ohio Holdings Corp. will post 3.18 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, November 13th. Park-Ohio Holdings Corp.’s dividend payout ratio (DPR) is presently 21.19%.
In other Park-Ohio Holdings Corp. news, insider Robert D. Vilsack sold 7,436 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $45.02, for a total transaction of $334,768.72. Following the completion of the transaction, the insider now owns 103,527 shares of the company’s stock, valued at approximately $4,660,785.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Wert sold 2,500 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total transaction of $102,000.00. Following the transaction, the director now directly owns 81,695 shares of the company’s stock, valued at approximately $3,333,156. The disclosure for this sale can be found here. Insiders have sold a total of 39,650 shares of company stock valued at $1,647,828 in the last three months. Insiders own 31.00% of the company’s stock.
Several large investors have recently made changes to their positions in PKOH. Russell Investments Group Ltd. lifted its holdings in shares of Park-Ohio Holdings Corp. by 31.7% in the 1st quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 1,200 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Park-Ohio Holdings Corp. by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 74,799 shares of the industrial products company’s stock worth $2,689,000 after purchasing an additional 2,164 shares during the last quarter. American International Group Inc. lifted its stake in Park-Ohio Holdings Corp. by 7.1% in the first quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 346 shares during the last quarter. Alliancebernstein L.P. bought a new stake in Park-Ohio Holdings Corp. in the first quarter worth about $1,510,000. Finally, FMR LLC lifted its stake in Park-Ohio Holdings Corp. by 36.9% in the first quarter. FMR LLC now owns 93,160 shares of the industrial products company’s stock worth $3,349,000 after purchasing an additional 25,100 shares during the last quarter. 55.56% of the stock is owned by hedge funds and other institutional investors.
Park-Ohio Holdings Corp. Company Profile
Park-Ohio Holdings Corp. is a diversified international company providing supply chain management outsourcing services, capital equipment used on their production lines and manufactured components used to assemble its products. The Company operates in three segments: Supply Technologies, Assembly Components and Engineered Products.
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