Park-Ohio (NASDAQ:PKOH) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Park-Ohio (NASDAQ:PKOH) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01), Yahoo Finance reports. Park-Ohio had a return on equity of 13.52% and a net margin of 0.47%. The firm had revenue of $389.30 million during the quarter, compared to analysts’ expectations of $386.45 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share.

Park-Ohio Price Performance

Shares of Park-Ohio stock traded up $0.13 during trading hours on Friday, hitting $23.69. The company’s stock had a trading volume of 9,970 shares, compared to its average volume of 24,958. The business has a 50 day moving average price of $25.32 and a two-hundred day moving average price of $23.21. Park-Ohio has a 12-month low of $10.90 and a 12-month high of $28.79. The company has a market cap of $310.10 million, a PE ratio of 37.40 and a beta of 1.23. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.24 and a current ratio of 2.14.

Park-Ohio Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.50 annualized dividend and a dividend yield of 2.11%. Park-Ohio’s payout ratio is 79.37%.

Insider Transactions at Park-Ohio

In other Park-Ohio news, insider Robert D. Vilsack sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $24.39, for a total transaction of $158,535.00. Following the sale, the insider now directly owns 180,060 shares of the company’s stock, valued at $4,391,663.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Robert D. Vilsack sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $24.39, for a total transaction of $158,535.00. Following the transaction, the insider now owns 180,060 shares of the company’s stock, valued at $4,391,663.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James W. Wert sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, the director now directly owns 91,190 shares in the company, valued at approximately $2,370,940. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,000 shares of company stock valued at $321,580. 35.60% of the stock is currently owned by insiders.

Institutional Trading of Park-Ohio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its position in Park-Ohio by 5.3% during the 3rd quarter. Rhumbline Advisers now owns 9,064 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 456 shares during the period. First Trust Advisors LP lifted its stake in Park-Ohio by 2.6% in the 4th quarter. First Trust Advisors LP now owns 22,659 shares of the industrial products company’s stock valued at $611,000 after buying an additional 571 shares in the last quarter. BlackRock Inc. lifted its stake in Park-Ohio by 0.6% in the 1st quarter. BlackRock Inc. now owns 108,251 shares of the industrial products company’s stock valued at $1,308,000 after buying an additional 671 shares in the last quarter. Citadel Advisors LLC lifted its stake in Park-Ohio by 4.3% in the 4th quarter. Citadel Advisors LLC now owns 17,768 shares of the industrial products company’s stock valued at $479,000 after buying an additional 738 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Park-Ohio by 3.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,455 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 48.16% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Park-Ohio from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th.

About Park-Ohio

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. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.