Zacks Investment Research lowered shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a research report report published on Thursday morning.
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. “
A number of other equities analysts also recently issued reports on the company. BidaskClub raised Park-Ohio from a strong sell rating to a sell rating in a research note on Thursday. ValuEngine downgraded Park-Ohio from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Finally, TheStreet downgraded Park-Ohio from a b- rating to a c+ rating in a research note on Wednesday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $41.00.
Shares of Park-Ohio opened at $41.45 on Thursday, MarketBeat reports. The company has a market cap of $509.53 million, a PE ratio of 12.83 and a beta of 2.78. Park-Ohio has a 12-month low of $34.90 and a 12-month high of $47.90. The company has a quick ratio of 1.47, a current ratio of 2.47 and a debt-to-equity ratio of 1.87.
Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Tuesday, May 8th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $405.70 million during the quarter, compared to the consensus estimate of $376.33 million. Park-Ohio had a return on equity of 15.41% and a net margin of 1.94%. equities research analysts expect that Park-Ohio will post 3.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 29th. Investors of record on Tuesday, May 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Monday, May 14th. Park-Ohio’s payout ratio is currently 15.48%.
In related news, Director James W. Wert sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $40.50, for a total value of $40,500.00. Following the completion of the transaction, the director now directly owns 79,495 shares of the company’s stock, valued at approximately $3,219,547.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward F. Crawford sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $40.58, for a total value of $142,030.00. Following the completion of the transaction, the insider now directly owns 1,644,228 shares of the company’s stock, valued at $66,722,772.24. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $569,905 over the last ninety days. 31.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKOH. Wells Fargo & Company MN increased its stake in Park-Ohio by 48.5% in the 3rd quarter. Wells Fargo & Company MN now owns 14,445 shares of the industrial products company’s stock valued at $658,000 after purchasing an additional 4,721 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Park-Ohio by 9.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 40,028 shares of the industrial products company’s stock valued at $1,826,000 after purchasing an additional 3,519 shares in the last quarter. California Public Employees Retirement System increased its stake in Park-Ohio by 9.3% in the 3rd quarter. California Public Employees Retirement System now owns 39,470 shares of the industrial products company’s stock valued at $1,800,000 after purchasing an additional 3,370 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in Park-Ohio by 10.4% in the 4th quarter. Rice Hall James & Associates LLC now owns 62,685 shares of the industrial products company’s stock valued at $2,880,000 after purchasing an additional 5,913 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in Park-Ohio by 2.7% in the 4th quarter. Foundry Partners LLC now owns 81,379 shares of the industrial products company’s stock valued at $3,739,000 after purchasing an additional 2,136 shares in the last quarter. 55.22% of the stock is owned by hedge funds and other institutional investors.
Park-Ohio Company Profile
Park-Ohio Holdings Corp., through its subsidiaries, provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Asia, Europe, Canada, Mexico, and internationally. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.
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