Prudential Financial Inc. raised its position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 11.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,959 shares of the industrial products company’s stock after purchasing an additional 992 shares during the quarter. Prudential Financial Inc. owned 0.08% of Park-Ohio worth $305,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Park-Ohio by 3.6% during the third quarter. Dimensional Fund Advisors LP now owns 877,582 shares of the industrial products company’s stock valued at $33,655,000 after purchasing an additional 30,831 shares in the last quarter. Private Management Group Inc. raised its position in shares of Park-Ohio by 1.9% during the fourth quarter. Private Management Group Inc. now owns 672,325 shares of the industrial products company’s stock valued at $20,634,000 after buying an additional 12,475 shares during the last quarter. BlackRock Inc. raised its position in shares of Park-Ohio by 2.9% during the third quarter. BlackRock Inc. now owns 553,007 shares of the industrial products company’s stock valued at $21,209,000 after buying an additional 15,371 shares during the last quarter. Vanguard Group Inc raised its position in shares of Park-Ohio by 0.9% during the third quarter. Vanguard Group Inc now owns 384,290 shares of the industrial products company’s stock valued at $14,738,000 after buying an additional 3,311 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Park-Ohio by 0.9% during the third quarter. Vanguard Group Inc. now owns 384,290 shares of the industrial products company’s stock valued at $14,738,000 after buying an additional 3,311 shares during the last quarter. Institutional investors and hedge funds own 53.85% of the company’s stock.
In other Park-Ohio news, Director Ronna Romney sold 2,195 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.99, for a total value of $72,413.05. Following the completion of the transaction, the director now directly owns 16,900 shares in the company, valued at $557,531. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.20% of the company’s stock.
Park-Ohio (NASDAQ:PKOH) last announced its earnings results on Monday, March 4th. The industrial products company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.32. The business had revenue of $405.90 million during the quarter, compared to the consensus estimate of $410.37 million. Park-Ohio had a net margin of 3.23% and a return on equity of 17.24%. Sell-side analysts anticipate that Park-Ohio Holdings Corp. will post 4.43 EPS for the current fiscal year.
Several equities research analysts recently weighed in on PKOH shares. BidaskClub upgraded shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Zacks Investment Research cut shares of Park-Ohio from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 9th. Finally, ValuEngine upgraded shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.00.
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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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