Park-Ohio Holdings Corp. (NASDAQ:PKOH) – Investment analysts at B. Riley lowered their Q1 2020 earnings per share estimates for shares of Park-Ohio in a research report issued on Wednesday, May 8th. B. Riley analyst C. Horn now expects that the industrial products company will post earnings per share of $1.12 for the quarter, down from their previous estimate of $1.13. B. Riley also issued estimates for Park-Ohio’s Q3 2020 earnings at $1.26 EPS, Q4 2020 earnings at $1.27 EPS and FY2020 earnings at $4.93 EPS.
Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Park-Ohio from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th. TheStreet upgraded Park-Ohio from a “c+” rating to a “b-” rating in a report on Monday. ValuEngine upgraded Park-Ohio from a “strong sell” rating to a “sell” rating in a report on Monday, April 15th. Finally, Zacks Investment Research cut Park-Ohio from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 9th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.00.
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 Zacks’ consensus estimate of $0.98 by $0.03. The business had revenue of $420.10 million for the quarter, compared to analysts’ expectations of $420.00 million. Park-Ohio had a return on equity of 17.24% and a net margin of 3.23%.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, May 14th. Park-Ohio’s payout ratio is 11.68%.
In related news, Director Ronna Romney sold 2,195 shares of Park-Ohio stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.99, for a total value of $72,413.05. Following the transaction, the director now directly owns 16,900 shares in the company, valued at approximately $557,531. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 31.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System purchased a new position in shares of Park-Ohio during the fourth quarter valued at $25,000. BNP Paribas Arbitrage SA grew its holdings in shares of Park-Ohio by 453.8% during the first quarter. BNP Paribas Arbitrage SA now owns 1,872 shares of the industrial products company’s stock valued at $61,000 after buying an additional 1,534 shares in the last quarter. Cutler Group LP grew its holdings in shares of Park-Ohio by 1,000.0% during the fourth quarter. Cutler Group LP now owns 2,200 shares of the industrial products company’s stock valued at $67,000 after buying an additional 2,000 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Park-Ohio during the first quarter valued at $83,000. Finally, Citigroup Inc. grew its holdings in shares of Park-Ohio by 14.4% during the fourth quarter. Citigroup Inc. now owns 2,951 shares of the industrial products company’s stock valued at $91,000 after buying an additional 371 shares in the last quarter. Institutional investors and hedge funds own 54.20% of the company’s stock.
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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