Park-Ohio Holdings Corp. (NASDAQ:PKOH) had its price objective hoisted by FBR & Co from $33.00 to $37.00 in a research report released on Wednesday morning. FBR & Co currently has a mkt perform rating on the industrial products company’s stock.
A number of other brokerages have also issued reports on PKOH. BidaskClub lowered shares of Park-Ohio Holdings Corp. from a hold rating to a sell rating in a research note on Saturday, August 5th. Zacks Investment Research raised shares of Park-Ohio Holdings Corp. from a sell rating to a hold rating in a report on Saturday, May 13th. Finally, TheStreet raised shares of Park-Ohio Holdings Corp. from a c rating to a b- rating in a report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $45.25.
Shares of Park-Ohio Holdings Corp. (NASDAQ PKOH) opened at 39.15 on Wednesday. Park-Ohio Holdings Corp. has a 12-month low of $30.01 and a 12-month high of $47.00. The firm has a market cap of $477.59 million, a PE ratio of 14.82 and a beta of 3.47. The company has a 50 day moving average of $39.08 and a 200-day moving average of $39.07.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. The business had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million. Equities research analysts forecast that Park-Ohio Holdings Corp. will post $3.24 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, August 9th. Park-Ohio Holdings Corp.’s dividend payout ratio is currently 18.80%.
In related news, Director Patrick V. Auletta sold 2,010 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $38.55, for a total transaction of $77,485.50. Following the sale, the director now owns 18,645 shares of the company’s stock, valued at $718,764.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.00% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Park-Ohio Holdings Corp. during the fourth quarter worth approximately $162,000. American International Group Inc. increased its stake in Park-Ohio Holdings Corp. by 7.1% in the first quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock worth $188,000 after buying an additional 346 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Park-Ohio Holdings Corp. by 3.8% in the first quarter. Wedge Capital Management L L P NC now owns 5,558 shares of the industrial products company’s stock worth $200,000 after buying an additional 202 shares in the last quarter. Oxford Asset Management bought a new stake in Park-Ohio Holdings Corp. during the first quarter worth approximately $202,000. Finally, Ameriprise Financial Inc. bought a new stake in Park-Ohio Holdings Corp. during the second quarter worth approximately $228,000. 55.89% of the stock is currently owned by hedge funds and other institutional investors.
About Park-Ohio Holdings Corp.
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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