Park-Ohio Holdings Corp. (NASDAQ:PKOH) Position Boosted by First Trust Advisors LP
First Trust Advisors LP lifted its holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 25.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,535 shares of the industrial products company’s stock after purchasing an additional 3,982 shares during the period. First Trust Advisors LP owned about 0.16% of Park-Ohio worth $583,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in Park-Ohio by 45.5% during the second quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 364 shares during the last quarter. Algert Global LLC lifted its position in shares of Park-Ohio by 6.8% during the 2nd quarter. Algert Global LLC now owns 8,862 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 567 shares during the last quarter. Swiss National Bank boosted its stake in shares of Park-Ohio by 4.8% during the 2nd quarter. Swiss National Bank now owns 15,400 shares of the industrial products company’s stock worth $502,000 after acquiring an additional 700 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Park-Ohio by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 389,815 shares of the industrial products company’s stock worth $12,704,000 after acquiring an additional 996 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Park-Ohio by 9.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,841 shares of the industrial products company’s stock worth $386,000 after acquiring an additional 1,000 shares during the last quarter. 55.18% of the stock is currently owned by institutional investors.
In other Park-Ohio news, CEO Matthew V. Crawford sold 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $33.09, for a total value of $165,450.00. Following the completion of the sale, the chief executive officer now owns 999,936 shares in the company, valued at approximately $33,087,882.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew V. Crawford sold 6,600 shares of Park-Ohio stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.30, for a total transaction of $219,780.00. Following the sale, the chief executive officer now directly owns 996,436 shares of the company’s stock, valued at approximately $33,181,318.80. The disclosure for this sale can be found here. 31.20% of the stock is currently owned by insiders.
Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.13). The firm had revenue of $403.40 million for the quarter, compared to analysts’ expectations of $430.20 million. Park-Ohio had a return on equity of 16.27% and a net margin of 2.78%. On average, equities analysts predict that Park-Ohio Holdings Corp. will post 4.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, November 12th. Park-Ohio’s payout ratio is 11.68%.
Several brokerages have recently commented on PKOH. Zacks Investment Research downgraded Park-Ohio from a “hold” rating to a “strong sell” rating in a report on Saturday, November 9th. BidaskClub raised Park-Ohio from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. B. Riley cut their price objective on Park-Ohio from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, ValuEngine lowered shares of Park-Ohio from a “sell” rating to a “strong sell” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Park-Ohio has an average rating of “Hold” and an average price target of $30.50.
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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