Park-Ohio Holdings Corp. (PKOH) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a hold rating to a buy rating in a research note issued to investors on Friday. They currently have $44.00 price objective 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. “
Several other equities research analysts have also weighed in on the company. FBR & Co raised their target price on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the stock a mkt perform rating in a research report on Wednesday. BidaskClub lowered Park-Ohio Holdings Corp. from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, TheStreet raised Park-Ohio Holdings Corp. from a c rating to a b- rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Park-Ohio Holdings Corp. presently has a consensus rating of Buy and a consensus price target of $45.25.
Shares of Park-Ohio Holdings Corp. (PKOH) traded up 0.77% during trading on Friday, reaching $39.15. 27,035 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $39.08 and a 200 day moving average price of $39.07. The company has a market capitalization of $477.59 million, a P/E ratio of 14.82 and a beta of 3.47. Park-Ohio Holdings Corp. has a 12-month low of $30.01 and a 12-month high of $47.00.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. The business had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million. Equities analysts expect that Park-Ohio Holdings Corp. will post $3.24 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Wednesday, August 9th. Park-Ohio Holdings Corp.’s dividend payout ratio (DPR) is 18.80%.
In other Park-Ohio Holdings Corp. news, Director Patrick V. Auletta sold 2,010 shares of Park-Ohio Holdings Corp. stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $38.55, for a total transaction of $77,485.50. Following the transaction, the director now owns 18,645 shares of the company’s stock, valued at $718,764.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 31.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKOH. Oxford Asset Management bought a new position in Park-Ohio Holdings Corp. during the first quarter worth about $202,000. Teton Advisors Inc. raised its position in Park-Ohio Holdings Corp. by 1.1% in the first quarter. Teton Advisors Inc. now owns 171,400 shares of the industrial products company’s stock worth $6,162,000 after buying an additional 1,900 shares during the last quarter. New Amsterdam Partners LLC NY bought a new position in Park-Ohio Holdings Corp. during the first quarter worth about $2,107,000. Bank of New York Mellon Corp raised its position in Park-Ohio Holdings Corp. by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 74,799 shares of the industrial products company’s stock worth $2,689,000 after buying an additional 2,164 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position 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 during the last quarter. 55.89% of the stock is currently 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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