Olstein Capital Management L.P. lifted its holdings in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 9.6% during the second quarter, Holdings Channel reports. The fund owned 40,000 shares of the industrial products company’s stock after purchasing an additional 3,500 shares during the quarter. Olstein Capital Management L.P.’s holdings in Park-Ohio were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in PKOH. Foresters Investment Management Company Inc. grew its position in shares of Park-Ohio by 109.5% during the first quarter. Foresters Investment Management Company Inc. now owns 119,400 shares of the industrial products company’s stock worth $4,639,000 after acquiring an additional 62,400 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Park-Ohio during the fourth quarter worth approximately $1,371,000. Mackay Shields LLC purchased a new position in shares of Park-Ohio during the first quarter worth approximately $633,000. Dimensional Fund Advisors LP grew its position in shares of Park-Ohio by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 811,260 shares of the industrial products company’s stock worth $31,518,000 after acquiring an additional 15,708 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Park-Ohio by 85.3% in the 1st quarter. Wells Fargo & Company MN now owns 32,126 shares of the industrial products company’s stock valued at $1,249,000 after buying an additional 14,787 shares during the last quarter. Institutional investors and hedge funds own 54.17% of the company’s stock.
In related news, insider Edward F. Crawford sold 6,000 shares of Park-Ohio stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $40.58, for a total value of $243,480.00. Following the transaction, the insider now directly owns 1,609,974 shares in the company, valued at approximately $65,332,744.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Edward F. Crawford sold 2,000 shares of Park-Ohio stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $42.00, for a total transaction of $84,000.00. Following the completion of the transaction, the president now owns 1,624,051 shares in the company, valued at $68,210,142. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,560 shares of company stock worth $1,186,335. 31.20% of the stock is currently owned by insiders.
NASDAQ:PKOH opened at $40.75 on Tuesday. Park-Ohio Holdings Corp. has a 1-year low of $34.95 and a 1-year high of $47.90. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.54 and a current ratio of 2.55. The firm has a market capitalization of $508.60 million, a P/E ratio of 12.62 and a beta of 2.77.
Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Thursday, August 9th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.14. Park-Ohio had a net margin of 2.60% and a return on equity of 15.68%. The firm had revenue of $432.20 million for the quarter, compared to analyst estimates of $397.83 million. analysts forecast that Park-Ohio Holdings Corp. will post 3.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 27th. Investors of record on Monday, August 13th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, August 10th. This represents a $0.50 dividend on an annualized basis and a yield of 1.23%. Park-Ohio’s dividend payout ratio (DPR) is 15.48%.
A number of research firms recently weighed in on PKOH. ValuEngine upgraded shares of Park-Ohio from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. Zacks Investment Research upgraded shares of Park-Ohio from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Friday, May 18th. BidaskClub upgraded shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 17th. Finally, TheStreet upgraded shares of Park-Ohio from a “c+” rating to a “b-” rating in a research report on Friday, June 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.00.
Park-Ohio Company Profile
Park-Ohio Holdings Corp., through its subsidiaries, provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Asia, Europe, Canada, Mexico, 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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