Weber Alan W maintained its position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,820 shares of the industrial products company’s stock at the end of the second quarter. Park-Ohio Holdings Corp. makes up about 1.2% of Weber Alan W’s investment portfolio, making the stock its 17th largest position. Weber Alan W’s holdings in Park-Ohio Holdings Corp. were worth $2,165,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in Park-Ohio Holdings Corp. during the fourth quarter worth $162,000. American International Group Inc. increased its position in Park-Ohio Holdings Corp. by 7.1% in the first quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock worth $188,000 after buying an additional 346 shares during the period. Wedge Capital Management L L P NC increased its position in Park-Ohio Holdings Corp. by 3.8% in the first quarter. Wedge Capital Management L L P NC now owns 5,558 shares of the industrial products company’s stock worth $200,000 after buying an additional 202 shares during the period. Oxford Asset Management bought a new position in Park-Ohio Holdings Corp. during the first quarter worth $202,000. Finally, Goldman Sachs Group Inc. increased its position in Park-Ohio Holdings Corp. by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 6,672 shares of the industrial products company’s stock worth $240,000 after buying an additional 1,551 shares during the period. Hedge funds and other institutional investors own 55.89% of the company’s stock.
Park-Ohio Holdings Corp. (NASDAQ PKOH) opened at 39.45 on Thursday. The firm has a market cap of $481.41 million, a P/E ratio of 12.54 and a beta of 3.47. Park-Ohio Holdings Corp. has a 1-year low of $30.01 and a 1-year high of $47.00. The stock has a 50 day moving average price of $39.01 and a 200-day moving average price of $39.10.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 17.18%. Equities research analysts forecast that Park-Ohio Holdings Corp. will post $3.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.50 annualized dividend and a yield of 1.27%. Park-Ohio Holdings Corp.’s payout ratio is 18.80%.
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A number of research analysts have recently weighed in on PKOH shares. TheStreet raised Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a research note on Monday, May 8th. Zacks Investment Research raised Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, May 13th. BidaskClub downgraded Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, FBR & Co increased their price target on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.75.
In related news, Director Patrick V. Auletta sold 2,010 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $38.55, for a total value of $77,485.50. Following the transaction, the director now owns 18,645 shares in the company, valued at $718,764.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. 31.00% of the stock is owned by insiders.
About Park-Ohio Holdings Corp.
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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