Zacks Investment Research upgraded shares of Park-Ohio (NASDAQ:PKOH) from a hold rating to a buy rating in a research report report published on Saturday, February 3rd. The brokerage currently has $49.00 price target on the industrial products company’s stock.
According to Zacks, “Park Ohio Holdings Corp. operates through two segments, Manufactured Products and Logistics, which serve a wide variety of industrial markets. Manufactured Products designs and manufactures a broad range of high quality products engineered for specific customer applications. The principal customers of Manufactured Products are original equipment manufacturers and end-users in the automotive, railroad, truck and aerospace industries. Logistics is a leading national supplier of fasteners (e.g., nuts, bolts and screws) and other industrial products. “
Several other brokerages have also weighed in on PKOH. BidaskClub lowered Park-Ohio from a buy rating to a hold rating in a research report on Thursday, January 18th. B. Riley reaffirmed a neutral rating on shares of Park-Ohio in a research report on Wednesday, November 1st. Finally, ValuEngine lowered Park-Ohio from a strong-buy rating to a buy rating in a research report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $43.00.
Park-Ohio (PKOH) opened at $39.70 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 2.36 and a quick ratio of 1.39. Park-Ohio has a 52-week low of $34.25 and a 52-week high of $47.90. The firm has a market capitalization of $503.73, a PE ratio of 13.27 and a beta of 3.23.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, February 14th. Park-Ohio’s dividend payout ratio is 21.19%.
In other news, Director Patrick W. Fogarty sold 13,500 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $47.05, for a total transaction of $635,175.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Matthew V. Crawford sold 4,122 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $44.38, for a total value of $182,934.36. Following the transaction, the chief operating officer now directly owns 997,433 shares in the company, valued at approximately $44,266,076.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,715 shares of company stock worth $1,008,612. 31.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PKOH. Rice Hall James & Associates LLC acquired a new position in shares of Park-Ohio during the 3rd quarter valued at about $2,589,000. Dimensional Fund Advisors LP boosted its stake in Park-Ohio by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 717,368 shares of the industrial products company’s stock valued at $27,332,000 after purchasing an additional 55,315 shares during the period. Northpointe Capital LLC boosted its stake in Park-Ohio by 42.6% during the 3rd quarter. Northpointe Capital LLC now owns 173,362 shares of the industrial products company’s stock valued at $7,905,000 after purchasing an additional 51,782 shares during the period. Algert Global LLC boosted its stake in Park-Ohio by 229.9% during the 3rd quarter. Algert Global LLC now owns 44,348 shares of the industrial products company’s stock valued at $2,022,000 after purchasing an additional 30,906 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its stake in Park-Ohio by 14.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 172,575 shares of the industrial products company’s stock valued at $7,869,000 after purchasing an additional 21,807 shares during the period. 55.18% of the stock is currently owned by institutional investors and hedge funds.
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Park-Ohio Company Profile
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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