Park-Ohio (NASDAQ:PKOH) Announces Quarterly Earnings Results

Park-Ohio (NASDAQ:PKOH) posted its quarterly earnings data on Wednesday. The industrial products company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.14, FiscalAI reports. The company had revenue of $458.50 million during the quarter, compared to analyst estimates of $432.13 million. Park-Ohio had a net margin of 1.60% and a return on equity of 10.55%.

Park-Ohio Stock Performance

Shares of PKOH stock traded down $0.67 during trading on Wednesday, reaching $43.50. The company had a trading volume of 87,462 shares, compared to its average volume of 73,970. The firm’s 50 day simple moving average is $46.04 and its two-hundred day simple moving average is $35.21. Park-Ohio has a one year low of $18.06 and a one year high of $53.30. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.40 and a quick ratio of 1.26. The company has a market capitalization of $630.32 million, a PE ratio of 15.34, a PEG ratio of 1.13 and a beta of 1.34.

Park-Ohio Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.1250 per share. This represents a $0.50 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 13th. Park-Ohio’s dividend payout ratio (DPR) is 26.60%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PKOH. Weiss Ratings upgraded shares of Park-Ohio from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Zacks Research upgraded Park-Ohio from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. KeyCorp lifted their price target on Park-Ohio from $45.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Park-Ohio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $59.00.

Insider Activity at Park-Ohio

In other news, insider Robert Vilsack sold 9,000 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $47.44, for a total value of $426,960.00. Following the sale, the insider directly owned 167,836 shares of the company’s stock, valued at approximately $7,962,139.84. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Wert sold 3,000 shares of Park-Ohio stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $47.50, for a total value of $142,500.00. Following the completion of the transaction, the director directly owned 85,456 shares in the company, valued at approximately $4,059,160. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 52,330 shares of company stock worth $2,438,390. 31.10% of the stock is owned by insiders.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. (NASDAQ: PKOH) is a diversified manufacturing and supply-chain management company serving original equipment manufacturers and other industrial customers. Through its operating businesses, the company provides engineered products, component manufacturing, and integrated supply-chain services.

Park-Ohio’s manufacturing activities include the production of forged, machined, stamped, molded, and assembled components, as well as specialized products made from metal, rubber, and other materials.