Park-Ohio (NASDAQ:PKOH) Issues Earnings Results

Park-Ohio (NASDAQ:PKOH) released its quarterly earnings data on Wednesday. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.90 by $0.14, FiscalAI reports. Park-Ohio had a return on equity of 10.55% and a net margin of 1.60%. The firm had revenue of $458.50 million during the quarter, compared to the consensus estimate of $432.13 million.

Park-Ohio Stock Up 9.3%

Park-Ohio stock traded up $3.70 during midday trading on Friday, hitting $43.31. 94,556 shares of the stock were exchanged, compared to its average volume of 64,438. Park-Ohio has a 52-week low of $18.69 and a 52-week high of $53.30. The company has a quick ratio of 1.26, a current ratio of 2.40 and a debt-to-equity ratio of 1.66. The business’s 50-day moving average price is $45.91 and its 200-day moving average price is $35.29. The stock has a market capitalization of $627.58 million, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.11 and a beta of 1.34.

Park-Ohio Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a dividend of $0.1250 per share. The ex-dividend date is Friday, November 13th. This represents a $0.50 annualized dividend and a yield of 1.2%. Park-Ohio’s payout ratio is 26.60%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PKOH shares. Wall Street Zen raised shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Zacks Research lowered shares of Park-Ohio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings upgraded shares of Park-Ohio from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, KeyCorp raised their price objective on shares of Park-Ohio from $45.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Insider Activity

In other Park-Ohio news, Director James Wert sold 3,000 shares of Park-Ohio stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $47.50, for a total transaction of $142,500.00. Following the transaction, the director owned 85,456 shares of the company’s stock, valued at $4,059,160. This trade represents a 3.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Vilsack sold 3,190 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $46.42, for a total value of $148,079.80. Following the completion of the transaction, the insider owned 144,024 shares in the company, valued at $6,685,594.08. The trade was a 2.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 52,330 shares of company stock valued at $2,438,390. Company insiders own 31.10% of the company’s stock.

About Park-Ohio

Park-Ohio Holdings Corp. (NASDAQ: PKOH) is a diversified manufacturing and supply-chain management company serving original equipment manufacturers and other industrial customers. Through its operating businesses, the company provides engineered products, component manufacturing, and integrated supply-chain services.

Park-Ohio’s manufacturing activities include the production of forged, machined, stamped, molded, and assembled components, as well as specialized products made from metal, rubber, and other materials.