Several other analysts have also weighed in on the stock. B. Riley dropped their price objective on shares of Park-Ohio from $40.00 to $30.00 and set a neutral rating for the company in a report on Monday, August 12th. Zacks Investment Research lowered shares of Park-Ohio from a buy rating to a hold rating in a report on Saturday, August 17th. TheStreet lowered shares of Park-Ohio from a b- rating to a c+ rating in a report on Monday, August 5th. Finally, ValuEngine lowered shares of Park-Ohio from a sell rating to a strong sell rating in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Park-Ohio has a consensus rating of Hold and a consensus price target of $30.50.
PKOH traded up $0.53 during midday trading on Thursday, reaching $32.71. 16,635 shares of the company’s stock were exchanged, compared to its average volume of 31,284. The firm has a market capitalization of $401.61 million, a price-to-earnings ratio of 7.40 and a beta of 2.36. The company has a quick ratio of 1.32, a current ratio of 2.37 and a debt-to-equity ratio of 1.89. Park-Ohio has a one year low of $25.74 and a one year high of $40.10. The business has a 50-day simple moving average of $28.50 and a two-hundred day simple moving average of $32.01.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, August 12th. Park-Ohio’s payout ratio is 11.68%.
In related news, Director James W. Wert purchased 2,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $27.62 per share, with a total value of $69,050.00. Following the completion of the acquisition, the director now directly owns 80,320 shares in the company, valued at approximately $2,218,438.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronna Romney sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the sale, the director now directly owns 18,909 shares of the company’s stock, valued at approximately $494,281.26. The disclosure for this sale can be found here. Company insiders own 31.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Panagora Asset Management Inc. acquired a new stake in shares of Park-Ohio in the second quarter valued at approximately $34,000. Royal Bank of Canada increased its holdings in shares of Park-Ohio by 45.5% in the second quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 364 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Park-Ohio by 453.8% in the first quarter. BNP Paribas Arbitrage SA now owns 1,872 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 1,534 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Park-Ohio by 58.9% in the second quarter. Acadian Asset Management LLC now owns 4,056 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 1,504 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Park-Ohio in the first quarter valued at approximately $277,000. 54.67% of the stock is owned by institutional investors and hedge funds.
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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