Park-Ohio Holdings Corp. (PKOH) Raised to Buy at 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 report published on Thursday. The firm currently has $44.00 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. “
A number of other research firms also recently commented on PKOH. BidaskClub raised shares of Park-Ohio Holdings Corp. from a sell rating to a hold rating in a report on Wednesday, August 16th. ValuEngine raised shares of Park-Ohio Holdings Corp. from a buy rating to a strong-buy rating in a report on Wednesday. Finally, FBR & Co boosted their price target on shares of Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a mkt perform rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $43.67.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 39.25 on Thursday. The company has a 50-day moving average of $39.76 and a 200 day moving average of $38.47. The stock has a market cap of $478.81 million, a P/E ratio of 14.86 and a beta of 3.42. Park-Ohio Holdings Corp. has a 52-week low of $30.01 and a 52-week high of $47.00.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $350.90 million during the quarter, compared to the consensus estimate of $355.83 million. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. Equities research analysts forecast 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 was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Wednesday, August 9th. Park-Ohio Holdings Corp.’s dividend payout ratio (DPR) is 18.80%.
In other news, Director James W. Wert sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total transaction of $102,000.00. Following the completion of the transaction, the director now owns 81,695 shares of the company’s stock, valued at $3,333,156. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 31.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Park-Ohio Holdings Corp. by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 717,368 shares of the industrial products company’s stock valued at $27,332,000 after purchasing an additional 55,315 shares in the last quarter. Private Management Group Inc. raised its stake in shares of Park-Ohio Holdings Corp. by 0.7% during the first quarter. Private Management Group Inc. now owns 634,391 shares of the industrial products company’s stock valued at $22,806,000 after purchasing an additional 4,409 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Park-Ohio Holdings Corp. by 3.8% during the second quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock valued at $14,506,000 after purchasing an additional 13,983 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Park-Ohio Holdings Corp. by 1.3% during the second quarter. Blair William & Co. IL now owns 203,192 shares of the industrial products company’s stock valued at $7,742,000 after purchasing an additional 2,665 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Park-Ohio Holdings Corp. during the second quarter valued at about $5,744,000. Institutional investors and hedge funds own 55.12% of the company’s stock.
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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