Park-Ohio Holdings Corp. (NASDAQ:PKOH) Shares Will Pay Quarterly Dividend of $0.12

Key Points

• Park-Ohio declared a quarterly dividend of $0.125 per share, payable November 27 to shareholders of record November 13. The annualized dividend is $0.50, yielding about 1.1%.
• The dividend appears well covered: the current payout ratio is 14.1%, and analysts expect next year’s earnings to support an estimated payout ratio of 13.2%.
• Park-Ohio beat quarterly expectations, reporting EPS of $1.04 versus a $0.90 consensus and revenue of $458.5 million versus $432.13 million expected. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $59.

Park-Ohio Holdings Corp. (NASDAQ:PKOH - Get Free Report) announced a quarterly dividend on Friday, October 30th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.1250 per share by the industrial products company on Friday, November 27th. This represents a $0.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 13th.

Park-Ohio has raised its dividend payment by an average of 0.1% per year over the last three years. Park-Ohio has a payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Park-Ohio to earn $3.78 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 13.2%.

Park-Ohio Stock Performance

Shares of Park-Ohio stock opened at $46.60 on Wednesday. Park-Ohio has a 12 month low of $18.69 and a 12 month high of $53.30. The company has a quick ratio of 1.31, a current ratio of 2.44 and a debt-to-equity ratio of 1.64. The stock has a market cap of $675.23 million, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.34. The business has a fifty day simple moving average of $45.88 and a 200-day simple moving average of $35.63.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.14. Park-Ohio had a return on equity of 11.50% and a net margin of 2.04%. The firm had revenue of $458.50 million during the quarter, compared to the consensus estimate of $432.13 million. On average, sell-side analysts anticipate that Park-Ohio will post 3.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on PKOH shares. Zacks Research cut shares of Park-Ohio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 3rd. Weiss Ratings upgraded Park-Ohio from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. KeyCorp raised their price target on Park-Ohio from $45.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Park-Ohio from a "buy" rating to a "strong-buy" rating in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.00.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. is a diversified industrial company that provides supply-chain management services and manufactures components and equipment for industrial and transportation markets. Its operations are organized around Supply Technologies, Assembly Components and Engineered Products. Through Supply Technologies, the company sources, manages and distributes production parts and supplies for customers. Its other businesses make products that include engineered components, forged and machined parts, industrial fasteners, and induction heating and melting equipment.

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