Massachusetts Financial Services Co. MA lifted its holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,420 shares of the industrial products company’s stock after acquiring an additional 5,886 shares during the period. Massachusetts Financial Services Co. MA owned 0.28% of Park-Ohio worth $1,397,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in PKOH. BlackRock Inc. raised its position in Park-Ohio by 9.6% in the 2nd quarter. BlackRock Inc. now owns 537,636 shares of the industrial products company’s stock worth $20,052,000 after purchasing an additional 47,018 shares during the period. Dimensional Fund Advisors LP raised its position in Park-Ohio by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 846,751 shares of the industrial products company’s stock worth $31,584,000 after purchasing an additional 35,491 shares during the period. Millennium Management LLC raised its position in Park-Ohio by 67.8% in the 2nd quarter. Millennium Management LLC now owns 53,080 shares of the industrial products company’s stock worth $1,980,000 after purchasing an additional 21,445 shares during the period. Citadel Advisors LLC purchased a new stake in Park-Ohio in the 2nd quarter worth about $650,000. Finally, Wells Fargo & Company MN raised 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 worth $1,249,000 after purchasing an additional 14,787 shares during the period. 53.18% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Park-Ohio from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Friday. B. Riley reissued a “neutral” rating on shares of Park-Ohio in a research report on Wednesday. BidaskClub raised shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 18th. Finally, ValuEngine raised shares of Park-Ohio from a “sell” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Park-Ohio presently has a consensus rating of “Hold” and a consensus target price of $40.00.
In other news, insider Edward F. Crawford sold 48,186 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $40.59, for a total transaction of $1,955,869.74. Following the transaction, the insider now directly owns 1,522,148 shares of the company’s stock, valued at $61,783,987.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 31.20% of the company’s stock.
Shares of NASDAQ:PKOH opened at $36.79 on Friday. The company has a market cap of $463.58 million, a PE ratio of 9.17 and a beta of 2.75. Park-Ohio Holdings Corp. has a one year low of $32.32 and a one year high of $47.90. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.54 and a current ratio of 2.43.
Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Tuesday, November 6th. The industrial products company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.15. The business had revenue of $414.30 million for the quarter, compared to analyst estimates of $404.00 million. Park-Ohio had a net margin of 2.76% and a return on equity of 16.17%. Sell-side analysts anticipate that Park-Ohio Holdings Corp. will post 3.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, November 13th. Park-Ohio’s dividend payout ratio (DPR) is presently 15.48%.
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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