Zacks Investment Research downgraded shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a report released on Friday, February 16th.
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. “
Several other research firms have also recently issued reports on PKOH. ValuEngine cut shares of Park-Ohio from a strong-buy rating to a buy rating in a report on Thursday, November 9th. BidaskClub cut shares of Park-Ohio from a buy rating to a hold rating in a report on Thursday, January 18th. Finally, B. Riley reissued 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 issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $41.00.
Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Monday, March 5th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $356.10 million. Park-Ohio had a net margin of 2.02% and a return on equity of 15.04%. equities research analysts forecast that Park-Ohio will post 3.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, February 14th. Park-Ohio’s dividend payout ratio is presently 21.83%.
In related news, COO Matthew V. Crawford sold 4,122 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $44.38, for a total transaction of $182,934.36. Following the completion of the sale, the chief operating officer now directly owns 997,433 shares of the company’s stock, valued at $44,266,076.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 31.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in PKOH. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Park-Ohio in the 2nd quarter valued at approximately $197,000. Royal Bank of Canada lifted its position in shares of Park-Ohio 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 acquiring an additional 37 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Park-Ohio in the 4th quarter valued at approximately $218,000. Ameriprise Financial Inc. purchased a new stake in shares of Park-Ohio in the 2nd quarter valued at approximately $228,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Park-Ohio by 154.5% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,067 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 3,076 shares in the last quarter. 55.25% of the stock is owned by institutional investors and hedge funds.
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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