Kennedy Capital Management Inc. lessened its holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 19.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,330 shares of the industrial products company’s stock after selling 11,579 shares during the period. Kennedy Capital Management Inc.’s holdings in Park-Ohio were worth $1,597,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. New York State Teachers Retirement System bought a new stake in Park-Ohio during the 4th quarter worth approximately $25,000. BNP Paribas Arbitrage SA raised its stake in Park-Ohio by 453.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,872 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 1,534 shares during the period. Acadian Asset Management LLC bought a new stake in Park-Ohio during the 1st quarter worth approximately $83,000. Citigroup Inc. raised its stake in Park-Ohio by 14.4% during the 4th quarter. Citigroup Inc. now owns 2,951 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 371 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in Park-Ohio by 403.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,292 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 2,638 shares during the period. Hedge funds and other institutional investors own 53.62% of the company’s stock.
In related news, Director Ronna Romney sold 2,195 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $32.99, for a total value of $72,413.05. Following the completion of the transaction, the director now directly owns 16,900 shares of the company’s stock, valued at $557,531. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patrick V. Auletta sold 2,300 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $31.33, for a total transaction of $72,059.00. Following the completion of the transaction, the director now directly owns 17,125 shares of the company’s stock, valued at $536,526.25. The disclosure for this sale can be found here. Company insiders own 31.20% of the company’s stock.
Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.03. Park-Ohio had a net margin of 3.29% and a return on equity of 17.19%. The business had revenue of $420.10 million during the quarter, compared to analyst estimates of $420.00 million. Analysts forecast that Park-Ohio Holdings Corp. will post 4.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, May 14th. Park-Ohio’s dividend payout ratio (DPR) is currently 11.68%.
PKOH has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. Zacks Investment Research cut shares of Park-Ohio from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 9th. ValuEngine lowered shares of Park-Ohio from a “sell” rating to a “strong sell” rating in a report on Friday, June 7th. Finally, TheStreet raised shares of Park-Ohio from a “c+” rating to a “b-” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.00.
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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. 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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