Park-Ohio Holdings said on April 21, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.50 annualized). Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of May 4, 2023 to qualify for the dividend. Shareholders of record as of May 5, 2023 will receive the payment on May 19, 2023.
At the current share price of $12.45 / share, the stock’s dividend yield is 4.02%. Looking back five years and taking a sample every week, the average dividend yield has been 2.20%, the lowest has been 1.19%, and the highest has been 5.07%. The standard deviation of yields is 1.00 (n=212).
The current dividend yield is 1.82 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is -0.45. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 132 funds or institutions reporting positions in Park-Ohio Holdings. This is a decrease of 9 owner(s) or 6.38% in the last quarter. Average portfolio weight of all funds dedicated to PKOH is 0.06%, an increase of 20.40%. Total shares owned by institutions decreased in the last three months by 0.66% to 7,777K shares. The put/call ratio of PKOH is 2.06, indicating a bearish outlook.
Analyst Price Forecast Suggests 153.98% Upside
As of March 27, 2023, the average one-year price target for Park-Ohio Holdings is $31.62. The forecasts range from a low of $31.31 to a high of $32.55. The average price target represents an increase of 153.98% from its latest reported closing price of $12.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Park-Ohio Holdings is $1,873MM, an increase of 25.46%. The projected annual non-GAAP EPS is $2.61.
What are Other Shareholders Doing?
Private Management Group holds 975K shares representing 7.61% ownership of the company. In it’s prior filing, the firm reported owning 955K shares, representing an increase of 2.04%. The firm increased its portfolio allocation in PKOH by 5.12% over the last quarter.
Gamco Investors, Inc. Et Al holds 901K shares representing 7.03% ownership of the company. In it’s prior filing, the firm reported owning 923K shares, representing a decrease of 2.45%. The firm decreased its portfolio allocation in PKOH by 3.59% over the last quarter.
FLPSX – Fidelity Low-Priced Stock Fund holds 750K shares representing 5.85% ownership of the company. In it’s prior filing, the firm reported owning 747K shares, representing an increase of 0.37%. The firm increased its portfolio allocation in PKOH by 8.92% over the last quarter.
EQ ADVISORS TRUST – 1290 VT GAMCO Small Company Value Portfolio Class IA holds 557K shares representing 4.35% ownership of the company. In it’s prior filing, the firm reported owning 555K shares, representing an increase of 0.36%. The firm decreased its portfolio allocation in PKOH by 2.78% over the last quarter.
Gabelli Funds holds 470K shares representing 3.67% ownership of the company. In it’s prior filing, the firm reported owning 467K shares, representing an increase of 0.66%. The firm increased its portfolio allocation in PKOH by 2.60% over the last quarter.
Park-Ohio Holdings Background Information
(This description is provided by the company.)
ParkOhio is a diversified international company providing world-class customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. Headquartered in Cleveland, Ohio, ParkOhio operates more than 125 manufacturing sites and supply chain logistics facilities worldwide, through three reportable segments: supply technologies, engineered products and assembly components.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.