Park-Ohio Holdings Corp. (PKOH) Stock Rating Upgraded by ValuEngine
ValuEngine upgraded shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.
A number of other equities research analysts have also recently commented on PKOH. Zacks Investment Research upgraded shares of Park-Ohio Holdings Corp. from a sell rating to a hold rating in a report on Saturday, May 13th. BidaskClub upgraded shares of Park-Ohio Holdings Corp. from a sell rating to a hold rating in a report on Wednesday, August 16th. Finally, FBR & Co increased 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 given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $43.67.
Park-Ohio Holdings Corp. (PKOH) opened at 39.25 on Wednesday. The firm’s 50-day moving average price is $39.76 and its 200-day moving average price is $38.47. Park-Ohio Holdings Corp. has a 1-year low of $30.01 and a 1-year high of $47.00. The firm 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. (NASDAQ:PKOH) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $355.83 million. Equities research analysts anticipate that Park-Ohio Holdings Corp. will post $3.24 earnings per share 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 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Wednesday, August 9th. Park-Ohio Holdings Corp.’s payout ratio is 18.80%.
In related news, Director James W. Wert sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total value of $102,000.00. Following the sale, the director now owns 81,695 shares in the company, valued at $3,333,156. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Park-Ohio Holdings Corp. by 4.9% in the first quarter. Vanguard Group Inc. now owns 366,734 shares of the industrial products company’s stock worth $13,185,000 after purchasing an additional 17,097 shares during the last quarter. Morgan Stanley boosted its holdings in Park-Ohio Holdings Corp. by 5.8% in the first quarter. Morgan Stanley now owns 47,465 shares of the industrial products company’s stock worth $1,706,000 after purchasing an additional 2,618 shares during the last quarter. Alambic Investment Management L.P. boosted its holdings in Park-Ohio Holdings Corp. by 20.2% in the first quarter. Alambic Investment Management L.P. now owns 26,135 shares of the industrial products company’s stock worth $940,000 after purchasing an additional 4,385 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Park-Ohio Holdings Corp. in the first quarter worth approximately $439,000. Finally, Strs Ohio boosted its holdings in Park-Ohio Holdings Corp. by 51.3% in the first quarter. Strs Ohio now owns 18,000 shares of the industrial products company’s stock worth $647,000 after purchasing an additional 6,100 shares during the last quarter. Institutional investors 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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