Park-Ohio (NASDAQ:PKOH) Announces Earnings Results, Beats Expectations By $0.14 EPS

Park-Ohio (NASDAQ:PKOH) posted its earnings results on Wednesday. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.14, FiscalAI reports. Park-Ohio had a net margin of 1.60% and a return on equity of 10.55%. The business had revenue of $458.50 million for the quarter, compared to analysts’ expectations of $432.13 million.

Park-Ohio Price Performance

Shares of PKOH stock traded down $0.67 during trading on Wednesday, hitting $43.50. The company had a trading volume of 87,462 shares, compared to its average volume of 64,028. The stock’s 50-day moving average is $46.07 and its two-hundred day moving average is $35.11. The stock has a market capitalization of $630.32 million, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.34. The company has a quick ratio of 1.26, a current ratio of 2.40 and a debt-to-equity ratio of 1.66. Park-Ohio has a 52 week low of $18.06 and a 52 week high of $53.30.

Park-Ohio Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a $0.1250 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 13th. Park-Ohio’s dividend payout ratio is 26.60%.

Insider Activity at Park-Ohio

In other Park-Ohio news, insider Robert Vilsack sold 3,190 shares of Park-Ohio stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $46.42, for a total transaction of $148,079.80. Following the completion of the sale, the insider directly owned 144,024 shares in the company, valued at $6,685,594.08. The trade was a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 the business’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $47.50, for a total transaction of $142,500.00. Following the completion of the transaction, the director directly owned 85,456 shares of the company’s stock, valued at approximately $4,059,160. This represents a 3.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 52,330 shares of company stock valued at $2,438,390. 31.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on PKOH. Wall Street Zen raised shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 13th. Weiss Ratings raised 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 research report on Monday, October 5th. Finally, KeyCorp increased their price objective on Park-Ohio from $45.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, Park-Ohio presently has a consensus rating of “Buy” and an average price target of $59.00.

About Park-Ohio

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.