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 research analysts have also weighed in on the stock. B. Riley reduced their price objective on shares of Park-Ohio from $40.00 to $30.00 and set a neutral rating on the stock in a report on Monday, August 12th. ValuEngine lowered shares of Park-Ohio from a sell rating to a strong sell rating in a report on Friday, June 7th. BidaskClub lowered shares of Park-Ohio from a sell rating to a strong sell rating in a report on Thursday, August 8th. Finally, TheStreet lowered shares of Park-Ohio from a b- rating to a c+ rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Park-Ohio currently has an average rating of Hold and an average target price of $30.50.
Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings data on Monday, August 5th. The industrial products company reported $1.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.07. Park-Ohio had a net margin of 2.89% and a return on equity of 16.77%. The business had revenue of $415.30 million for the quarter, compared to analyst estimates of $438.60 million. On average, analysts predict that Park-Ohio will post 4.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.50 annualized dividend and a yield of 1.78%. Park-Ohio’s dividend payout ratio is currently 11.68%.
In related news, Director James W. Wert purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $27.62 per share, for a total transaction of $69,050.00. Following the purchase, the director now directly owns 80,320 shares of the company’s stock, valued at $2,218,438.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward F. Crawford purchased 7,581 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average price of $30.84 per share, for a total transaction of $233,798.04. Following the completion of the purchase, the insider now directly owns 1,510,295 shares in the company, valued at $46,577,497.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 22,613 shares of company stock worth $678,307 over the last quarter. 31.20% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in Park-Ohio by 45.5% during the 2nd quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 364 shares in the last quarter. Uniplan Investment Counsel Inc. raised its stake in Park-Ohio by 14.8% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 87,947 shares of the industrial products company’s stock worth $2,866,000 after acquiring an additional 11,323 shares in the last quarter. Victory Capital Management Inc. raised its stake in Park-Ohio by 23.3% during the 2nd quarter. Victory Capital Management Inc. now owns 36,301 shares of the industrial products company’s stock worth $1,183,000 after acquiring an additional 6,869 shares in the last quarter. Morgan Stanley raised its stake in Park-Ohio by 153.7% during the 2nd quarter. Morgan Stanley now owns 36,590 shares of the industrial products company’s stock worth $1,192,000 after acquiring an additional 22,167 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Park-Ohio by 10.3% during the 2nd quarter. Bank of America Corp DE now owns 22,466 shares of the industrial products company’s stock worth $732,000 after purchasing an additional 2,097 shares during the last quarter. Hedge funds and other institutional investors own 54.36% of the company’s stock.
Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, 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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