FY2017 EPS Estimates for Park-Ohio Holdings Corp. Cut by KeyCorp (PKOH)
Park-Ohio Holdings Corp. (NASDAQ:PKOH) – Investment analysts at KeyCorp reduced their FY2017 earnings estimates for Park-Ohio Holdings Corp. in a research report issued to clients and investors on Wednesday. KeyCorp analyst S. Barger now forecasts that the industrial products company will earn $3.16 per share for the year, down from their previous forecast of $3.25. KeyCorp also issued estimates for Park-Ohio Holdings Corp.’s Q4 2018 earnings at $0.98 EPS and FY2018 earnings at $3.90 EPS.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The business had revenue of $352.20 million during the quarter, compared to analysts’ expectations of $345.17 million. Park-Ohio Holdings Corp. had a net margin of 2.16% and a return on equity of 14.79%.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Park-Ohio Holdings Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. FBR & Co restated a “hold” rating on shares of Park-Ohio Holdings Corp. in a research note on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Park-Ohio Holdings Corp. presently has a consensus rating of “Hold” and an average target price of $44.67.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at $41.90 on Friday. The stock has a market capitalization of $541.95, a P/E ratio of 14.27 and a beta of 3.52. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 2.36. Park-Ohio Holdings Corp. has a 12 month low of $34.25 and a 12 month high of $47.80.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, November 13th. This represents a $0.50 dividend on an annualized basis and a yield of 1.19%. Park-Ohio Holdings Corp.’s dividend payout ratio is presently 21.19%.
In related news, insider Robert D. Vilsack sold 1,471 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $45.75, for a total transaction of $67,298.25. Following the transaction, the insider now owns 93,527 shares in the company, valued at approximately $4,278,860.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert D. Vilsack sold 7,436 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $45.02, for a total value of $334,768.72. Following the transaction, the insider now owns 103,527 shares in the company, valued at approximately $4,660,785.54. The disclosure for this sale can be found here. Insiders have sold a total of 39,650 shares of company stock worth $1,647,828 in the last 90 days. 31.00% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its position in Park-Ohio Holdings Corp. by 31.7% during the 1st quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock worth $180,000 after acquiring an additional 1,200 shares during the period. American International Group Inc. lifted its position in Park-Ohio Holdings Corp. by 7.1% during the 1st quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 346 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in Park-Ohio Holdings Corp. during the 2nd quarter worth approximately $197,000. Royal Bank of Canada lifted its position in Park-Ohio Holdings Corp. by 0.7% during the 2nd quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock worth $216,000 after acquiring an additional 37 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in Park-Ohio Holdings Corp. during the 2nd quarter worth approximately $228,000. 55.71% of the stock is owned by institutional investors.
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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