Private Management Group Inc. cut its position in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 0.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 631,181 shares of the industrial products company’s stock after selling 3,511 shares during the period. Park-Ohio Holdings Corp. makes up 1.5% of Private Management Group Inc.’s holdings, making the stock its 19th largest position. Private Management Group Inc. owned approximately 5.05% of Park-Ohio Holdings Corp. worth $28,782,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Park-Ohio Holdings Corp. by 4.9% during the first quarter. Vanguard Group Inc. now owns 366,734 shares of the industrial products company’s stock worth $13,185,000 after acquiring an additional 17,097 shares during the period. Morgan Stanley boosted its position in Park-Ohio Holdings Corp. by 5.8% during the first quarter. Morgan Stanley now owns 47,465 shares of the industrial products company’s stock worth $1,706,000 after purchasing an additional 2,618 shares in the last quarter. Royce & Associates LP boosted its position in Park-Ohio Holdings Corp. by 20.3% during the second quarter. Royce & Associates LP now owns 142,080 shares of the industrial products company’s stock worth $5,413,000 after purchasing an additional 23,958 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Park-Ohio Holdings Corp. by 254.2% during the second quarter. Russell Investments Group Ltd. now owns 17,641 shares of the industrial products company’s stock worth $672,000 after purchasing an additional 12,660 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in Park-Ohio Holdings Corp. by 11.2% during the second quarter. Wedge Capital Management L L P NC now owns 6,180 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 622 shares in the last quarter. 55.56% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on PKOH shares. B. Riley restated a “neutral” rating on shares of Park-Ohio Holdings Corp. in a research report on Wednesday, November 1st. ValuEngine cut Park-Ohio Holdings Corp. from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. FBR & Co increased their price target on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a report on Wednesday, August 9th. BidaskClub cut Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research cut Park-Ohio Holdings Corp. from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $44.67.
In other news, COO Matthew V. Crawford sold 4,192 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $40.21, for a total value of $168,560.32. Following the completion of the sale, the chief operating officer now directly owns 1,016,145 shares of the company’s stock, valued at approximately $40,859,190.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert D. Vilsack sold 1,471 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $45.75, for a total value of $67,298.25. Following the completion of the sale, the insider now directly owns 93,527 shares of the company’s stock, valued at $4,278,860.25. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock valued at $1,545,828 over the last ninety days. 31.00% of the stock is owned by company insiders.
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Park-Ohio Holdings Corp. (NASDAQ PKOH) traded up $0.55 during trading hours on Wednesday, reaching $41.15. The company had a trading volume of 26,200 shares, compared to its average volume of 32,564. The stock has a market capitalization of $508.74, a price-to-earnings ratio of 13.40 and a beta of 3.52. Park-Ohio Holdings Corp. has a 52-week low of $34.25 and a 52-week high of $47.80. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.39 and a current ratio of 2.36.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.05). The business had revenue of $352.20 million for 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%. equities analysts anticipate that Park-Ohio Holdings Corp. will post 3.18 earnings per share for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, November 13th. Park-Ohio Holdings Corp.’s dividend payout ratio (DPR) is 21.19%.
About Park-Ohio Holdings Corp.
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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