Wall Street analysts forecast that Park-Ohio Holdings Corp. (NASDAQ:PKOH) will announce sales of $430.20 million for the current quarter, according to Zacks. Three analysts have provided estimates for Park-Ohio’s earnings, with estimates ranging from $428.90 million to $432.30 million. Park-Ohio posted sales of $414.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that Park-Ohio will report full-year sales of $1.70 billion for the current fiscal year, with estimates ranging from $1.70 billion to $1.71 billion. For the next financial year, analysts expect that the firm will post sales of $1.81 billion, with estimates ranging from $1.78 billion to $1.83 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Park-Ohio.
Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings results on Monday, August 5th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.07. The firm had revenue of $415.30 million for the quarter, compared to analyst estimates of $438.60 million. Park-Ohio had a net margin of 2.89% and a return on equity of 16.77%.
Several research firms have recently weighed in on PKOH. Zacks Investment Research lowered shares of Park-Ohio from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. ValuEngine lowered shares of Park-Ohio from a “sell” rating to a “strong sell” rating in a research note on Friday, June 7th. B. Riley lowered their price objective on shares of Park-Ohio from $40.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. BidaskClub lowered shares of Park-Ohio from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 8th. Finally, TheStreet lowered shares of Park-Ohio from a “b-” rating to a “c+” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Park-Ohio presently has an average rating of “Hold” and an average price target of $30.50.
In other Park-Ohio news, insider Edward F. Crawford acquired 12,532 shares of the business’s stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $29.96 per share, with a total value of $375,458.72. Following the acquisition, the insider now directly owns 1,497,675 shares of the company’s stock, valued at approximately $44,870,343. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James W. Wert acquired 2,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $27.62 per share, with a total value of $69,050.00. Following the acquisition, the director now directly owns 80,320 shares in the company, valued at $2,218,438.40. The disclosure for this purchase can be found here. Insiders acquired a total of 22,613 shares of company stock valued at $678,307 in the last three months. Insiders own 31.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Park-Ohio by 10.0% in the 4th quarter. Geode Capital Management LLC now owns 96,102 shares of the industrial products company’s stock valued at $2,949,000 after buying an additional 8,717 shares during the period. Bank of America Corp DE boosted its stake in shares of Park-Ohio by 396.4% in the 4th quarter. Bank of America Corp DE now owns 20,740 shares of the industrial products company’s stock valued at $637,000 after purchasing an additional 16,562 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Park-Ohio by 403.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,292 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,638 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Park-Ohio by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 896,556 shares of the industrial products company’s stock valued at $27,515,000 after purchasing an additional 18,974 shares during the last quarter. Finally, Foundry Partners LLC boosted its stake in shares of Park-Ohio by 8.9% in the 1st quarter. Foundry Partners LLC now owns 117,705 shares of the industrial products company’s stock valued at $3,811,000 after purchasing an additional 9,638 shares during the last quarter. Institutional investors own 54.36% of the company’s stock.
Shares of Park-Ohio stock traded down $0.96 during trading on Tuesday, hitting $27.12. 34,060 shares of the stock were exchanged, compared to its average volume of 32,099. The stock has a market capitalization of $350.44 million, a price-to-earnings ratio of 6.46 and a beta of 2.30. The company has a fifty day moving average price of $29.77 and a 200-day moving average price of $32.54. Park-Ohio has a 1-year low of $26.61 and a 1-year high of $43.15. The company has a current ratio of 2.37, a quick ratio of 1.32 and a debt-to-equity ratio of 1.89.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, August 12th. Park-Ohio’s dividend payout ratio is currently 11.68%.
Park-Ohio Company Profile
Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, and internationally. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.
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