$376.33 Million in Sales Expected for Park-Ohio Holdings Corp. (PKOH) This Quarter
Equities research analysts expect Park-Ohio Holdings Corp. (NASDAQ:PKOH) to announce $376.33 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Park-Ohio’s earnings, with estimates ranging from $369.70 million to $381.00 million. Park-Ohio reported sales of $343.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The firm is scheduled to announce its next quarterly earnings results on Monday, May 14th.
According to Zacks, analysts expect that Park-Ohio will report full-year sales of $376.33 million for the current financial year, with estimates ranging from $1.53 billion to $1.54 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.62 billion per share, with estimates ranging from $1.59 billion to $1.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Park-Ohio.
Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings data on Monday, March 5th. The industrial products company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Park-Ohio had a return on equity of 15.04% and a net margin of 2.02%. The company had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $356.10 million.
In other news, COO Matthew V. Crawford sold 4,122 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $44.38, for a total transaction of $182,934.36. Following the transaction, the chief operating officer now owns 997,433 shares of the company’s stock, valued at $44,266,076.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 31.00% of the company’s stock.
A number of large investors have recently made changes to their positions in PKOH. Ameriprise Financial Inc. bought a new position in Park-Ohio in the second quarter worth approximately $228,000. Northern Trust Corp grew its stake in Park-Ohio by 13.6% in the second quarter. Northern Trust Corp now owns 111,886 shares of the industrial products company’s stock worth $4,263,000 after purchasing an additional 13,412 shares in the last quarter. Vanguard Group Inc. grew its stake in Park-Ohio by 3.8% in the second quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock worth $14,506,000 after purchasing an additional 13,983 shares in the last quarter. Royal Bank of Canada grew its stake in Park-Ohio by 0.7% in the second quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 37 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Park-Ohio by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 452 shares in the last quarter. 55.25% of the stock is currently owned by institutional investors.
Park-Ohio (NASDAQ PKOH) opened at $43.15 on Wednesday. The company has a market capitalization of $539.17, a P/E ratio of 18.84 and a beta of 3.13. Park-Ohio has a 52 week low of $34.25 and a 52 week high of $47.90. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.40 and a current ratio of 2.43.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.16%. Park-Ohio’s dividend payout ratio is 21.83%.
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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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