Park-Ohio (NASDAQ:PKOH) Releases 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 Stock Down 0.1 %

PKOH traded down $0.03 during trading on Friday, hitting $23.53. 15,627 shares of the company’s stock traded hands, compared to its average volume of 25,060. The company’s 50 day simple moving average is $25.32 and its two-hundred day simple moving average is $23.21. The company has a current ratio of 2.14, a quick ratio of 1.24 and a debt-to-equity ratio of 2.29. Park-Ohio has a 12-month low of $10.90 and a 12-month high of $28.79. The stock has a market capitalization of $308.01 million, a price-to-earnings ratio of 36.78 and a beta of 1.23.

Park-Ohio Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a dividend of $0.125 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.50 annualized dividend and a yield of 2.12%. Park-Ohio’s dividend payout ratio is 79.37%.

Insider Buying and Selling at Park-Ohio

In other news, insider Robert D. Vilsack sold 6,500 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $24.39, for a total value of $158,535.00. Following the transaction, the insider now directly owns 180,060 shares in the company, valued at approximately $4,391,663.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Patrick W. Fogarty sold 2,500 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $24.05, for a total value of $60,125.00. Following the transaction, the chief financial officer now directly owns 147,336 shares in the company, valued at approximately $3,543,430.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert D. Vilsack sold 6,500 shares of Park-Ohio stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $24.39, for a total value of $158,535.00. Following the transaction, the insider now owns 180,060 shares in the company, valued at $4,391,663.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,000 shares of company stock worth $321,580. Insiders own 35.60% of the company’s stock.

Hedge Funds Weigh In On Park-Ohio

Several institutional investors and hedge funds have recently bought and sold shares of PKOH. BlackRock Inc. lifted its position in Park-Ohio by 351.6% during the second quarter. BlackRock Inc. now owns 488,811 shares of the industrial products company’s stock valued at $9,287,000 after purchasing an additional 380,560 shares in the last quarter. Millennium Management LLC bought a new stake in Park-Ohio during the second quarter valued at about $2,310,000. Geode Capital Management LLC raised its holdings in Park-Ohio by 105.1% during the second quarter. Geode Capital Management LLC now owns 168,277 shares of the industrial products company’s stock valued at $3,197,000 after acquiring an additional 86,216 shares during the period. Gamco Investors INC. ET AL raised its holdings in Park-Ohio by 10.1% during the first quarter. Gamco Investors INC. ET AL now owns 922,160 shares of the industrial products company’s stock valued at $12,975,000 after acquiring an additional 84,440 shares during the period. Finally, State Street Corp raised its holdings in Park-Ohio by 227.2% during the second quarter. State Street Corp now owns 98,634 shares of the industrial products company’s stock valued at $1,874,000 after acquiring an additional 68,493 shares during the period. 48.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Park-Ohio from a “hold” rating to a “buy” rating in a report 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.