Wedge Capital Management L L P NC reduced its holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 21.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,838 shares of the industrial products company’s stock after selling 1,342 shares during the period. Wedge Capital Management L L P NC’s holdings in Park-Ohio Holdings Corp. were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of PKOH. Vanguard Group Inc. raised its stake in Park-Ohio Holdings Corp. by 4.9% during the first quarter. Vanguard Group Inc. now owns 366,734 shares of the industrial products company’s stock worth $13,185,000 after purchasing an additional 17,097 shares during the period. Morgan Stanley raised its stake in Park-Ohio Holdings Corp. by 5.8% during the first quarter. Morgan Stanley now owns 47,465 shares of the industrial products company’s stock worth $1,706,000 after purchasing an additional 2,618 shares during the period. Royce & Associates LP raised its stake in Park-Ohio Holdings Corp. by 20.3% during the second quarter. Royce & Associates LP now owns 142,080 shares of the industrial products company’s stock worth $5,413,000 after purchasing an additional 23,958 shares during the period. Russell Investments Group Ltd. increased its position in shares of Park-Ohio Holdings Corp. by 254.2% during the second quarter. Russell Investments Group Ltd. now owns 17,641 shares of the industrial products company’s stock valued at $672,000 after acquiring an additional 12,660 shares during the last quarter. Finally, Olstein Capital Management L.P. acquired a new stake in shares of Park-Ohio Holdings Corp. during the second quarter valued at about $834,000. 55.71% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director James W. Wert sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total value of $102,000.00. Following the completion of the sale, the director now owns 81,695 shares in the company, valued at approximately $3,333,156. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert D. Vilsack sold 1,471 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $45.75, for a total transaction of $67,298.25. Following the completion of the sale, the insider now owns 93,527 shares of the company’s stock, valued at approximately $4,278,860.25. The disclosure for this sale can be found here. Insiders have sold a total of 39,650 shares of company stock valued at $1,647,828 in the last 90 days. Insiders own 31.00% of the company’s stock.
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Park-Ohio Holdings Corp. (NASDAQ:PKOH) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). Park-Ohio Holdings Corp. had a return on equity of 14.79% and a net margin of 2.16%. The firm had revenue of $352.20 million for the quarter, compared to analyst estimates of $345.17 million. equities analysts forecast that Park-Ohio Holdings Corp. will post 3.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, November 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.19%. Park-Ohio Holdings Corp.’s dividend payout ratio is presently 21.19%.
A number of equities research analysts have weighed in on PKOH shares. ValuEngine upgraded shares of Park-Ohio Holdings Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Park-Ohio Holdings Corp. from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Thursday, August 31st. Finally, FBR & Co restated a “hold” rating on shares of Park-Ohio Holdings Corp. in a report on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Park-Ohio Holdings Corp. has a consensus rating of “Hold” and a consensus price target of $44.67.
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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