State Street Corp Sells 2,194 Shares of Park-Ohio Holdings Corp. (PKOH)
State Street Corp decreased its holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,838 shares of the industrial products company’s stock after selling 2,194 shares during the period. State Street Corp owned 1.33% of Park-Ohio worth $6,206,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of PKOH. Vanguard Group Inc. increased its stake in shares of Park-Ohio by 4.9% in the first quarter. Vanguard Group Inc. now owns 366,734 shares of the industrial products company’s stock worth $13,185,000 after purchasing an additional 17,097 shares in the last quarter. Geode Capital Management LLC grew its stake in Park-Ohio by 5.9% during the first quarter. Geode Capital Management LLC now owns 68,762 shares of the industrial products company’s stock valued at $2,471,000 after acquiring an additional 3,835 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Park-Ohio by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 662,053 shares of the industrial products company’s stock valued at $23,801,000 after acquiring an additional 48,279 shares in the last quarter. Morgan Stanley grew its stake in Park-Ohio by 5.8% during the first quarter. Morgan Stanley now owns 47,465 shares of the industrial products company’s stock valued at $1,706,000 after acquiring an additional 2,618 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Park-Ohio by 4.1% during the first quarter. Renaissance Technologies LLC now owns 109,000 shares of the industrial products company’s stock valued at $3,919,000 after acquiring an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 56.00% of the company’s stock.
In other Park-Ohio news, COO Matthew V. Crawford sold 3,662 shares of Park-Ohio stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $40.24, for a total transaction of $147,358.88. Following the completion of the sale, the chief operating officer now directly owns 1,016,145 shares in the company, valued at $40,889,674.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Matthew V. Crawford sold 15,808 shares of Park-Ohio stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $39.47, for a total transaction of $623,941.76. Following the sale, the chief operating officer now owns 1,032,645 shares of the company’s stock, valued at $40,758,498.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,743 shares of company stock valued at $2,371,506. 31.00% of the stock is currently owned by company insiders.
Several brokerages recently commented on PKOH. B. Riley reaffirmed a “neutral” rating on shares of Park-Ohio in a research note on Wednesday, November 1st. ValuEngine raised shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. FBR & Co boosted their price objective on shares of Park-Ohio from $33.00 to $37.00 and gave the company a “mkt perform” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of Park-Ohio from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research raised shares of Park-Ohio from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Saturday, August 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $42.00.
Park-Ohio Holdings Corp. (NASDAQ PKOH) opened at $44.45 on Friday. The company has a market cap of $582.67, a P/E ratio of 15.35 and a beta of 3.48. Park-Ohio Holdings Corp. has a 12 month low of $34.25 and a 12 month high of $47.80. 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 (NASDAQ:PKOH) last issued its quarterly earnings data 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). The firm had revenue of $352.20 million for the quarter, compared to analysts’ expectations of $345.17 million. Park-Ohio had a net margin of 2.16% and a return on equity of 14.79%. equities analysts forecast that Park-Ohio Holdings Corp. will post 3.18 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.50 annualized dividend and a yield of 1.12%. Park-Ohio’s payout ratio is presently 21.19%.
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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