Park-Ohio (PKOH) Given “Neutral” Rating at B. Riley
B. Riley restated their neutral rating on shares of Park-Ohio (NASDAQ:PKOH) in a report published on Wednesday. B. Riley also issued estimates for Park-Ohio’s Q4 2018 earnings at $0.89 EPS, FY2018 earnings at $3.97 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $1.10 EPS, Q3 2019 earnings at $1.14 EPS, Q4 2019 earnings at $1.12 EPS and FY2019 earnings at $4.31 EPS.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Park-Ohio from a hold rating to a buy rating and set a $45.00 price target on the stock in a research report on Tuesday, August 14th. ValuEngine raised Park-Ohio from a sell rating to a hold rating in a research report on Thursday, August 9th. Finally, BidaskClub upgraded Park-Ohio from a strong sell rating to a sell rating in a research note on Tuesday, September 18th. One 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. The stock has a consensus rating of Hold and an average price target of $40.00.
NASDAQ:PKOH traded down $1.52 during trading hours on Wednesday, reaching $36.79. 28,440 shares of the company were exchanged, compared to its average volume of 34,253. The company has a market capitalization of $463.58 million, a P/E ratio of 11.39 and a beta of 2.75. Park-Ohio has a 1-year low of $32.32 and a 1-year high of $47.90. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.43 and a quick ratio of 1.54.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, November 13th. Park-Ohio’s payout ratio is presently 15.48%.
In other Park-Ohio news, insider Edward F. Crawford sold 48,186 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $40.59, for a total transaction of $1,955,869.74. Following the completion of the sale, the insider now directly owns 1,522,148 shares in the company, valued at $61,783,987.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKOH. Sun Life Financial INC bought a new stake in Park-Ohio during the second quarter worth $165,000. Tower Research Capital LLC TRC lifted its stake in Park-Ohio by 279.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,426 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 3,259 shares during the last quarter. PEAK6 Investments L.P. lifted its stake in Park-Ohio by 7,026.6% during the second quarter. PEAK6 Investments L.P. now owns 6,511 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 6,605 shares during the last quarter. First Trust Advisors LP lifted its stake in Park-Ohio by 17.6% during the second quarter. First Trust Advisors LP now owns 9,907 shares of the industrial products company’s stock worth $370,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Park-Ohio during the second quarter worth $650,000. Hedge funds and other institutional investors own 53.18% of the company’s stock.
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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