Park-Ohio (PKOH) Lowered to “Hold” at BidaskClub
BidaskClub cut shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a research report sent to investors on Thursday.
A number of other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Park-Ohio from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. Zacks Investment Research upgraded Park-Ohio from a hold rating to a buy rating and set a $44.00 price target on the stock in a report on Thursday, August 31st. Finally, FBR & Co restated a hold rating on shares of Park-Ohio in a report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Park-Ohio currently has a consensus rating of Hold and an average price target of $42.00.
Park-Ohio (NASDAQ:PKOH) opened at $42.70 on Thursday. 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 has a 52-week low of $34.25 and a 52-week high of $47.80. The stock has a market capitalization of $535.06, a P/E ratio of 14.09 and a beta of 3.47.
Park-Ohio (NASDAQ:PKOH) last released its earnings results on Monday, November 6th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.05). Park-Ohio had a return on equity of 14.79% and a net margin of 2.16%. The business had revenue of $352.20 million for the quarter, compared to analyst estimates of $345.17 million. sell-side analysts forecast that Park-Ohio will post 3.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, November 13th. Park-Ohio’s dividend payout ratio is currently 21.19%.
In related news, Director Patrick W. Fogarty sold 13,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $47.05, for a total value of $635,175.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronna Romney sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $46.41, for a total value of $139,230.00. Following the completion of the sale, the director now owns 24,478 shares in the company, valued at approximately $1,136,023.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,935 shares of company stock worth $1,747,564. Insiders own 31.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PKOH. Vanguard Group Inc. lifted its stake in Park-Ohio by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 366,734 shares of the industrial products company’s stock valued at $13,185,000 after buying an additional 17,097 shares in the last quarter. Geode Capital Management LLC lifted its stake in Park-Ohio by 5.9% in the 1st quarter. Geode Capital Management LLC now owns 68,762 shares of the industrial products company’s stock valued at $2,471,000 after buying an additional 3,835 shares in the last quarter. Morgan Stanley lifted its stake in Park-Ohio by 5.8% in the 1st quarter. Morgan Stanley now owns 47,465 shares of the industrial products company’s stock valued at $1,706,000 after buying an additional 2,618 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Park-Ohio by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,672 shares of the industrial products company’s stock valued at $240,000 after buying an additional 1,551 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Park-Ohio by 254.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 17,641 shares of the industrial products company’s stock valued at $672,000 after buying an additional 12,660 shares in the last quarter. 55.93% of the stock is currently owned by hedge funds and other institutional investors.
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Park-Ohio 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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