ParkOhio Announces Third Quarter 2024 Results Webcast
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2024
0mins
Source: Businesswire
Webcast Announcement: ParkOhio will hold a conference call to discuss its Third Quarter 2024 results on November 7, 2024, at 10:00 a.m. Eastern Time, accessible via a provided link.
Company Overview: ParkOhio is a diversified international company based in Cleveland, Ohio, specializing in supply chain management, capital equipment, and manufactured components across three segments: Supply Technologies, Assembly Components, and Engineered Products.
Discover Tomorrow's Bullish Stocks Today
Receive free daily stock recommendations and professional analysis to optimize your portfolio's potential.
Sign up now to unlock expert insights and stay one step ahead of the market trends.
Analyst Views on PKOH
About PKOH
Park-Ohio Holdings Corp. is a diversified international company that provides customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. Its segments include Supply Technologies, Assembly Components and Engineered Products. Supply Technologies segment provides its customers with Total Supply Management, a proactive solutions approach that manages all aspects of supplying production parts and materials to its customers manufacturing floors, from strategic planning to program implementation. Assembly Components segment designs, develops and manufactures high pressure direct fuel injection fuel rails and pipes, fuel filler pipes and flexible multi-layer plastic and rubber assemblies. Its Engineered Products segment designs and manufactures a range of engineered products, including induction heating and melting systems, pipe threading systems, and forged and machined products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Park-Ohio (PKOH) Declares $0.125 Quarterly Dividend with 2.14% Yield
- Quarterly Dividend Announcement: Park-Ohio has declared a quarterly dividend of $0.125 per share, consistent with previous distributions, indicating the company's stability in the current economic environment and likely attracting income-focused investors.
- Yield Performance: The forward yield of 2.14% not only reflects the company's commitment to shareholder returns but may also enhance market attractiveness for its stock, promoting price stability.
- Shareholder Record Dates: The dividend will be payable on February 20, with a record date of February 6 and an ex-dividend date also on February 6, ensuring shareholders receive timely returns and bolstering investor confidence.
- Future Outlook: Park-Ohio targets sales of $1.6 billion to $1.62 billion for 2025 and aims for record free cash flow in Q4, indicating active transformation efforts and promising growth potential ahead.
Continue Reading
Supply Technologies Expands North American Network with 375,000 Sq Ft Facility in Ohio
- Network Expansion: Supply Technologies' new 375,000-square-foot distribution center in Union, Ohio, will serve as its flagship facility, enhancing distribution capabilities across the U.S., Canada, and Mexico, thereby improving customer service efficiency and meeting global OEM demands.
- Job Creation: The new facility is expected to create over 60 full-time positions, contributing approximately $3 million in annual payroll, significantly boosting local economic development and enhancing community employment levels.
- Capital Investment: The total capital investment for this project exceeds $20 million, reflecting the company's strong confidence in future growth and enhancing operational efficiency through advanced automation and warehouse systems.
- Strategic Importance: The construction of the new center will support a more efficient hub-and-spoke distribution network, ensuring supply continuity that helps global OEM customers improve production efficiency, further solidifying Supply Technologies' leadership position in the industry.
Continue Reading