Park-Ohio (PKOH) Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a research note published on Thursday.
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. “
Other research analysts also recently issued research reports about the company. ValuEngine downgraded Park-Ohio from a strong-buy rating to a buy rating in a research note on Thursday, November 9th. BidaskClub upgraded Park-Ohio from a hold rating to a buy rating in a research note on Friday, December 29th. Finally, B. Riley restated a neutral rating on shares of Park-Ohio in a research note on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $43.00.
Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.82 EPS for the quarter, missing the 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 company had revenue of $352.20 million during the quarter, compared to the consensus estimate of $345.17 million. equities research analysts predict that Park-Ohio will post 3.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.25%. Park-Ohio’s dividend payout ratio (DPR) is presently 21.19%.
In other news, Director Ronna Romney sold 3,000 shares of Park-Ohio stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $46.41, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Matthew V. Crawford sold 4,122 shares of Park-Ohio stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $44.38, for a total value of $182,934.36. Following the sale, the chief operating officer now owns 997,433 shares of the company’s stock, valued at approximately $44,266,076.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,715 shares of company stock valued at $1,008,612. Corporate insiders own 31.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Park-Ohio by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock valued at $14,506,000 after acquiring an additional 13,983 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Park-Ohio by 6.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 762,438 shares of the industrial products company’s stock valued at $34,767,000 after acquiring an additional 45,070 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Park-Ohio by 14.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 172,575 shares of the industrial products company’s stock valued at $7,869,000 after acquiring an additional 21,807 shares during the last quarter. Boston Advisors LLC boosted its position in shares of Park-Ohio by 19.2% during the 3rd quarter. Boston Advisors LLC now owns 18,420 shares of the industrial products company’s stock valued at $840,000 after acquiring an additional 2,965 shares during the last quarter. Finally, Foundry Partners LLC boosted its position in shares of Park-Ohio by 8.2% during the 3rd quarter. Foundry Partners LLC now owns 79,243 shares of the industrial products company’s stock valued at $3,613,000 after acquiring an additional 6,008 shares during the last quarter. Hedge funds and other institutional investors own 55.55% of the company’s stock.
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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