Blair William & Co. IL lowered its holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,786 shares of the industrial products company’s stock after selling 18,807 shares during the period. Blair William & Co. IL owned about 1.11% of Park-Ohio worth $5,399,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Park-Ohio in the 3rd quarter worth approximately $224,000. Dimensional Fund Advisors LP lifted its holdings in Park-Ohio by 3.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 877,582 shares of the industrial products company’s stock worth $33,655,000 after buying an additional 30,831 shares during the period. FMR LLC lifted its holdings in Park-Ohio by 5.8% in the 3rd quarter. FMR LLC now owns 67,225 shares of the industrial products company’s stock worth $2,578,000 after buying an additional 3,713 shares during the period. BlackRock Inc. lifted its holdings in Park-Ohio by 2.9% in the 3rd quarter. BlackRock Inc. now owns 553,007 shares of the industrial products company’s stock worth $21,209,000 after buying an additional 15,371 shares during the period. Finally, Olstein Capital Management L.P. lifted its holdings in Park-Ohio by 20.0% in the 3rd quarter. Olstein Capital Management L.P. now owns 48,000 shares of the industrial products company’s stock worth $1,841,000 after buying an additional 8,000 shares during the period. 53.95% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on PKOH. Zacks Investment Research upgraded Park-Ohio from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, November 9th. BidaskClub upgraded Park-Ohio from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 18th. ValuEngine cut Park-Ohio from a “hold” rating to a “sell” rating in a report on Friday. Finally, B. Riley reissued a “neutral” rating on shares of Park-Ohio in a research report on Wednesday, November 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.00.
Shares of NASDAQ:PKOH opened at $36.06 on Monday. Park-Ohio Holdings Corp. has a 52-week low of $32.32 and a 52-week high of $47.90. The company has a market capitalization of $458.03 million, a PE ratio of 11.16 and a beta of 2.75. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.43 and a quick ratio of 1.42.
Park-Ohio (NASDAQ:PKOH) last announced its earnings results on Tuesday, November 6th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.15. Park-Ohio had a return on equity of 16.17% and a net margin of 2.76%. The firm had revenue of $414.30 million during the quarter, compared to analyst estimates of $404.00 million. Equities research analysts forecast that Park-Ohio Holdings Corp. will post 3.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Tuesday, November 13th. Park-Ohio’s dividend payout ratio is currently 15.48%.
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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