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

Key Points

• Park-Ohio reported quarterly EPS of $1.04, beating the $0.90 consensus estimate by $0.14; revenue of $458.5 million also exceeded expectations of $432.1 million.
• The company declared a quarterly dividend of $0.125 per share, equivalent to $0.50 annually and a 1.1% yield.
• Analyst sentiment is positive: the stock has a consensus “Buy” rating and an average price target of $59, while shares traded at $43.50 after falling $0.67 on Wednesday.

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

Park-Ohio Stock Performance

Shares of Park-Ohio stock traded down $0.67 during trading hours on Wednesday, reaching $43.50. The company had a trading volume of 87,462 shares, compared to its average volume of 64,028. The firm has a market cap of $630.32 million, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.34. Park-Ohio has a one year low of $18.06 and a one year high of $53.30. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.40 and a quick ratio of 1.26. The business has a fifty day simple moving average of $46.07 and a 200 day simple moving average of $35.11.

Park-Ohio Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 13th. Park-Ohio's dividend payout ratio (DPR) is presently 26.60%.

Insiders Place Their Bets

In other Park-Ohio news, insider Robert D. Vilsack sold 3,190 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $46.42, for a total value of $148,079.80. Following the completion of the transaction, the insider owned 144,024 shares in the company, valued at $6,685,594.08. This trade represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James W. Wert sold 3,000 shares of the firm's stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $47.50, for a total value of $142,500.00. Following the completion of the transaction, the director owned 85,456 shares of the company's stock, valued at approximately $4,059,160. This represents a 3.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 52,330 shares of company stock worth $2,438,390. 31.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PKOH. Zacks Research upgraded Park-Ohio from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Park-Ohio from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of Park-Ohio from a "buy" rating to a "strong-buy" rating in a research report on Thursday, August 13th. Finally, KeyCorp lifted their target price on shares of Park-Ohio from $45.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price 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.

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