Park-Ohio (NASDAQ:PKOH) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS
by Mitch Edgeman · The Markets DailyPark-Ohio (NASDAQ:PKOH – Get Free Report) released its quarterly earnings data on Wednesday. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.09), FiscalAI reports. The company had revenue of $395.00 million during the quarter, compared to analysts’ expectations of $402.90 million. Park-Ohio had a net margin of 1.46% and a return on equity of 10.53%.
Park-Ohio Price Performance
Shares of PKOH traded up $0.34 during midday trading on Wednesday, reaching $26.64. The stock had a trading volume of 55,917 shares, compared to its average volume of 23,809. The firm’s 50 day moving average price is $23.95 and its 200-day moving average price is $21.84. Park-Ohio has a 52 week low of $15.52 and a 52 week high of $28.50. The company has a market capitalization of $383.72 million, a P/E ratio of 15.86 and a beta of 1.11. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.56 and a quick ratio of 1.32.
Park-Ohio Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were given a dividend of $0.125 per share. The ex-dividend date was Friday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.9%. Park-Ohio’s dividend payout ratio (DPR) is 29.76%.
Hedge Funds Weigh In On Park-Ohio
Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Park-Ohio by 69.3% during the third quarter. BNP Paribas Financial Markets now owns 2,602 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 1,065 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Park-Ohio by 377.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,699 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 2,134 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Park-Ohio during the 1st quarter valued at $80,000. Russell Investments Group Ltd. boosted its position in Park-Ohio by 73.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,920 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 1,659 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Park-Ohio during the second quarter worth approximately $90,000. 51.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Park-Ohio in a research note on Thursday, January 22nd. Zacks Research upgraded Park-Ohio to a “hold” rating in a research note on Monday, February 9th. Finally, KeyCorp raised Park-Ohio from a “sector weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a report on Monday, February 9th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.00.
View Our Latest Research Report on Park-Ohio
About Park-Ohio
Park-Ohio Holdings Corp is a diversified industrial company that supplies engineered products and distribution services to a broad array of end markets. Through its two primary operating segments—Engineered Solutions and Supply Chain Solutions—the company delivers metal components, assemblies and value-added distribution tailored to energy, transportation, industrial and commercial applications.
The Engineered Solutions segment provides design, machining, fabrication and assembly of custom metal parts, including heat exchangers, welded assemblies, tubing products and precision-machined components.
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