Park Ohio Holdings Corp (NASDAQ:PKOH) Director James W. Wert sold shares in the company, according to a recent SEC filing. Wert disposed of 1,000 shares of common stock at a price of $27.02 per share, totaling $27,020.
The transaction occurred on March 21, 2024, and following the sale, Wert's direct holdings in the company amounted to 84,190 shares. Additionally, there are 5,500 shares held indirectly by a family trust.
Park Ohio Holdings Corp, based in Cleveland, Ohio, operates in the metal forging and stampings industry. The company's shares are traded on the NASDAQ stock exchange under the ticker symbol PKOH.
Investors often monitor insider transactions as they can provide insights into how the company's executives and directors view the stock's value. However, it is important to note that there are various reasons insiders may buy or sell shares, and such transactions do not necessarily indicate their outlook on the company's future performance.
The filing was signed by attorney-in-fact Robert D. Vilsack on behalf of James W. Wert on March 22, 2024.
InvestingPro Insights
Following the recent insider transaction by Director James W. Wert at Park Ohio Holdings Corp (NASDAQ:PKOH), the company's stock metrics and performance provide additional context for investors considering the stock's potential. Park Ohio Holdings is currently trading at an attractive earnings multiple, with a P/E Ratio (Adjusted) for the last twelve months as of Q4 2023 standing at 6.05, significantly lower than the unadjusted P/E Ratio of 43.34. This indicates a potentially undervalued stock based on its earnings.
InvestingPro Tips suggest that Park Ohio Holdings has maintained a consistent dividend, with payments for 11 consecutive years, showcasing a commitment to returning value to shareholders. Additionally, the company has experienced a large price uptick over the last six months, with a 6 Month Price Total Return as of the date provided reaching 39.91%. This robust performance could signal strong investor confidence and market momentum.
Key financial metrics from InvestingPro Data show that the company has achieved an 11.17% revenue growth over the last twelve months as of Q4 2023, and a substantial EBITDA growth of 38.5% during the same period. With a market capitalization of 338.78M USD and a solid gross profit margin of 16.35%, Park Ohio Holdings appears to be in a strong financial position.
Investors interested in a deeper dive into Park Ohio Holdings Corp can explore additional InvestingPro Tips, with a total of 7 tips available at InvestingPro. These tips can provide further insights and help investors make more informed decisions. For those considering an InvestingPro subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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