Wall Street analysts expect Park-Ohio Holdings Corp. (NASDAQ:PKOH) to post sales of $438.60 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Park-Ohio’s earnings. The lowest sales estimate is $435.20 million and the highest is $443.60 million. Park-Ohio reported sales of $432.20 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The company is scheduled to issue its next quarterly earnings report on Wednesday, August 14th.
On average, analysts expect that Park-Ohio will report full year sales of $1.71 billion for the current year, with estimates ranging from $1.70 billion to $1.72 billion. For the next financial year, analysts anticipate that the business will report sales of $1.79 billion, with estimates ranging from $1.78 billion to $1.79 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Park-Ohio.
Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Monday, May 6th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. Park-Ohio had a net margin of 3.29% and a return on equity of 17.19%. The company had revenue of $420.10 million for the quarter, compared to analysts’ expectations of $420.00 million.
Several equities analysts recently commented on the stock. BidaskClub raised shares of Park-Ohio from a “sell” rating to a “hold” rating in a research report on Wednesday, June 12th. TheStreet raised shares of Park-Ohio from a “c+” rating to a “b-” rating in a research note on Monday, May 6th. ValuEngine raised shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research note on Monday, April 15th. Finally, Zacks Investment Research cut shares of Park-Ohio from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 9th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $39.00.
Shares of PKOH stock traded up $1.10 during mid-day trading on Wednesday, hitting $32.16. 771 shares of the stock traded hands, compared to its average volume of 27,828. The stock has a market capitalization of $392.35 million, a PE ratio of 7.41 and a beta of 2.38. The stock’s fifty day moving average price is $33.78. Park-Ohio has a 52-week low of $28.01 and a 52-week high of $43.15. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.26 and a current ratio of 2.27.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, May 14th. Park-Ohio’s dividend payout ratio is currently 11.68%.
In other Park-Ohio news, Director Patrick V. Auletta sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $31.33, for a total value of $72,059.00. Following the completion of the sale, the director now owns 17,125 shares in the company, valued at $536,526.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edward F. Crawford acquired 7,581 shares of Park-Ohio stock in a transaction on Tuesday, June 11th. The stock was purchased at an average price of $30.84 per share, with a total value of $233,798.04. Following the purchase, the insider now owns 1,510,295 shares of the company’s stock, valued at approximately $46,577,497.80. The disclosure for this purchase can be found here. Insiders own 31.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System bought a new position in shares of Park-Ohio in the 4th quarter valued at about $25,000. BNP Paribas Arbitrage SA lifted its stake in Park-Ohio by 453.8% in the 1st 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 during the last quarter. Cutler Group LP lifted its stake in Park-Ohio by 1,000.0% in the 4th quarter. Cutler Group LP now owns 2,200 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 2,000 shares during the last quarter. Citigroup Inc. lifted its position in Park-Ohio by 14.4% during the fourth quarter. Citigroup Inc. now owns 2,951 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 371 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in Park-Ohio by 403.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,292 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 2,638 shares during the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.
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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