California Public Employees Retirement System cut its stake in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,682 shares of the industrial products company’s stock after selling 3,503 shares during the quarter. California Public Employees Retirement System owned approximately 0.29% of Park-Ohio worth $1,368,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Millennium Management LLC increased its holdings 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 valued at $1,980,000 after purchasing an additional 21,445 shares during the last quarter. PEAK6 Investments L.P. increased its holdings in Park-Ohio by 7,026.6% in the 2nd quarter. PEAK6 Investments L.P. now owns 6,511 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 6,605 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Park-Ohio by 279.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,426 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 3,259 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Park-Ohio by 15.1% in the 2nd quarter. Renaissance Technologies LLC now owns 85,200 shares of the industrial products company’s stock valued at $3,178,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Park-Ohio in the 2nd quarter valued at approximately $650,000. 53.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PKOH stock opened at $34.20 on Monday. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.55 and a quick ratio of 1.54. 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 $438.68 million, a price-to-earnings ratio of 10.59 and a beta of 2.75.
Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings results on Thursday, August 9th. The industrial products company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.14. Park-Ohio had a net margin of 2.60% and a return on equity of 15.68%. The company had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $397.83 million. As a group, equities analysts forecast that Park-Ohio Holdings Corp. will post 3.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be given a $0.125 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $0.50 annualized dividend and a yield of 1.46%. Park-Ohio’s dividend payout ratio is presently 15.48%.
In other Park-Ohio 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 value of $1,955,869.74. Following the completion of the transaction, the insider now owns 1,522,148 shares of the company’s stock, valued at approximately $61,783,987.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 31.20% of the company’s stock.
PKOH has been the subject of several recent research reports. Zacks Investment Research cut shares of Park-Ohio from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine cut shares of Park-Ohio from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. Finally, BidaskClub raised shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 18th.
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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