Park-Ohio Holdings Corp. (NASDAQ:PKOH – Free Report) – Analysts at KeyCorp decreased their Q4 2023 earnings estimates for Park-Ohio in a report issued on Sunday, November 5th. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $0.66 for the quarter, down from their prior estimate of $0.71. The consensus estimate for Park-Ohio’s current full-year earnings is $3.12 per share. KeyCorp also issued estimates for Park-Ohio’s Q1 2024 earnings at $0.91 EPS, Q4 2024 earnings at $0.93 EPS and FY2025 earnings at $4.28 EPS.
Several other research firms also recently weighed in on PKOH. TheStreet upgraded shares of Park-Ohio from a “d+” rating to a “c” rating in a research note on Monday, October 16th. StockNews.com raised shares of Park-Ohio from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd.
Park-Ohio Price Performance
PKOH opened at $25.34 on Tuesday. The company has a market capitalization of $331.19 million, a price-to-earnings ratio of -126.69 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 2.14 and a debt-to-equity ratio of 2.29. The firm has a 50-day moving average price of $20.98 and a 200-day moving average price of $18.62. Park-Ohio has a twelve month low of $10.90 and a twelve month high of $28.79.
Institutional Investors Weigh In On Park-Ohio
Hedge funds have recently bought and sold shares of the stock. Schneider Downs Wealth Management Advisors LP lifted its position in Park-Ohio by 37.5% during the second quarter. Schneider Downs Wealth Management Advisors LP now owns 18,345 shares of the industrial products company’s stock valued at $349,000 after purchasing an additional 5,000 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Park-Ohio by 6.0% in the first quarter. Victory Capital Management Inc. now owns 42,327 shares of the industrial products company’s stock worth $511,000 after buying an additional 2,400 shares during the period. Private Management Group Inc. increased its stake in shares of Park-Ohio by 0.7% in the first quarter. Private Management Group Inc. now owns 981,616 shares of the industrial products company’s stock worth $11,858,000 after buying an additional 6,774 shares during the period. Barclays PLC purchased a new position in shares of Park-Ohio in the second quarter worth $32,000. Finally, Gladius Capital Management LP purchased a new position in Park-Ohio during the 3rd quarter valued at $37,000. 48.16% of the stock is currently owned by institutional investors.
Park-Ohio Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, November 16th. This represents a $0.50 annualized dividend and a yield of 1.97%. Park-Ohio’s payout ratio is presently -249.99%.
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. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.
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