Alliancebernstein L.P. purchased a new position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,010 shares of the industrial products company’s stock, valued at approximately $1,510,000. Alliancebernstein L.P. owned 0.34% of Park-Ohio Holdings Corp. as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Park-Ohio Holdings Corp. during the fourth quarter worth $162,000. American International Group Inc. increased its stake in Park-Ohio Holdings Corp. by 7.1% in the first quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock valued at $188,000 after buying an additional 346 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Park-Ohio Holdings Corp. by 3.8% in the first quarter. Wedge Capital Management L L P NC now owns 5,558 shares of the industrial products company’s stock valued at $200,000 after buying an additional 202 shares during the last quarter. Oxford Asset Management bought a new stake in Park-Ohio Holdings Corp. during the first quarter valued at $202,000. Finally, Cutler Group LP increased its stake in Park-Ohio Holdings Corp. by 3,771.9% in the first quarter. Cutler Group LP now owns 7,589 shares of the industrial products company’s stock valued at $272,000 after buying an additional 7,393 shares during the last quarter. Hedge funds and other institutional investors own 58.38% of the company’s stock.
Shares of Park-Ohio Holdings Corp. (PKOH) traded down 0.37% on Friday, hitting $40.55. The stock had a trading volume of 38,400 shares. Park-Ohio Holdings Corp. has a 12 month low of $30.01 and a 12 month high of $47.00. The firm has a market cap of $494.67 million, a P/E ratio of 15.35 and a beta of 3.47. The firm’s 50-day moving average price is $39.43 and its 200 day moving average price is $38.96.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. The firm had revenue of $350.90 million during the quarter, compared to the consensus estimate of $355.83 million. Analysts anticipate that Park-Ohio Holdings Corp. will post $3.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be paid a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.50 annualized dividend and a yield of 1.23%. Park-Ohio Holdings Corp.’s dividend payout ratio is currently 18.80%.
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Several analysts recently weighed in on PKOH shares. TheStreet upgraded Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a research note on Monday, May 8th. Zacks Investment Research raised Park-Ohio Holdings Corp. from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Friday, August 11th. BidaskClub raised Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, FBR & Co increased their price target on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.75.
In other news, Director James W. Wert sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total transaction of $102,000.00. Following the transaction, the director now directly owns 81,695 shares of the company’s stock, valued at $3,333,156. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patrick V. Auletta sold 2,010 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $38.55, for a total transaction of $77,485.50. Following the transaction, the director now directly owns 18,645 shares in the company, valued at $718,764.75. The disclosure for this sale can be found here. Insiders own 31.00% of the company’s stock.
About Park-Ohio Holdings Corp.
Park-Ohio Holdings Corp. is a diversified international company providing supply chain management outsourcing services, capital equipment used on their production lines and manufactured components used to assemble its products. The Company operates in three segments: Supply Technologies, Assembly Components and Engineered Products.
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