Zacks Investment Research upgraded shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a hold rating to a buy rating in a report issued on Friday morning. The brokerage currently has $46.00 target price on the industrial products company’s stock.
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 analysts also recently issued research reports about the company. BidaskClub upgraded Park-Ohio Holdings Corp. from a sell rating to a hold rating in a research note on Wednesday, August 16th. FBR & Co boosted their price target on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a mkt perform rating in a research note on Wednesday, August 9th. Finally, ValuEngine upgraded Park-Ohio Holdings Corp. from a buy rating to a strong-buy rating in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Park-Ohio Holdings Corp. has a consensus rating of Buy and a consensus target price of $44.33.
Shares of Park-Ohio Holdings Corp. (PKOH) traded up 2.35% on Friday, hitting $43.55. The stock had a trading volume of 33,982 shares. Park-Ohio Holdings Corp. has a 12 month low of $30.01 and a 12 month high of $47.00. The company’s 50 day moving average price is $39.86 and its 200-day moving average price is $38.21. The company has a market cap of $531.27 million, a P/E ratio of 16.48 and a beta of 3.42.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last posted its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The business had revenue of $350.90 million for the quarter, compared to the consensus estimate of $355.83 million. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. On average, analysts expect that Park-Ohio Holdings Corp. will post $3.24 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.50 annualized dividend and a dividend yield of 1.15%. Park-Ohio Holdings Corp.’s dividend payout ratio (DPR) is presently 18.80%.
In other news, Director James W. Wert sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $40.80, for a total value of $102,000.00. Following the completion of the transaction, the director now owns 81,695 shares of the company’s stock, valued at approximately $3,333,156. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Matthew V. Crawford sold 15,808 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $39.47, for a total value of $623,941.76. Following the completion of the transaction, the chief operating officer now directly owns 1,032,645 shares of the company’s stock, valued at approximately $40,758,498.15. The disclosure for this sale can be found here. In the last three months, insiders sold 26,162 shares of company stock valued at $1,041,861. Insiders own 31.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Park-Ohio Holdings Corp. by 31.7% in the 1st quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock valued at $180,000 after buying an additional 1,200 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Park-Ohio Holdings Corp. in the 2nd quarter valued at about $197,000. American International Group Inc. lifted its holdings in shares of Park-Ohio Holdings Corp. by 7.1% in the 1st quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock valued at $188,000 after buying an additional 346 shares during the period. Oxford Asset Management acquired a new position in shares of Park-Ohio Holdings Corp. in the 1st quarter valued at about $202,000. Finally, Royal Bank of Canada lifted its holdings in shares of Park-Ohio Holdings Corp. by 0.7% in the 2nd quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock valued at $216,000 after buying an additional 37 shares during the period. 55.12% of the stock is owned by institutional investors and hedge funds.
Park-Ohio Holdings Corp. 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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