Patrick V. Auletta, a director at Park Ohio Holdings Corp (NASDAQ:PKOH), recently sold 9,800 shares of the company's common stock. The transaction, which took place on December 5, was executed at an average price of $31.428 per share, resulting in a total sale value of approximately $307,994. Following this transaction, Auletta holds 12,135 shares of Park Ohio Holdings, representing a stake in the $419 million market cap company. The sale comes amid a significant 33.7% price surge over the past six months, with InvestingPro data showing the company maintains a GOOD financial health score. For deeper insights into PKOH's insider trading patterns and comprehensive analysis, the Pro Research Report available on InvestingPro offers detailed coverage of this and 1,400+ other US stocks.
In other recent news, Park Ohio Holdings Corp. reported steady consolidated net sales in the third quarter of 2024, reaching $418 million. The company also saw a significant increase in year-to-date adjusted earnings per share (EPS), which rose 15% to $2.94. In terms of liquidity, Park Ohio sold $25 million in common stock and repaid over $23 million in debt, leading to an overall liquidity boost to $194 million.
The company's North American sector reported a 19% increase in revenue year-over-year, with new equipment backlogs valued at $161 million. However, the Assembly Components division faced reduced sales due to lower unit volumes. Despite this, the Supply Technologies segment reported record operating income, indicating improved profitability in industrial equipment.
Park Ohio is planning for Q4 revenue growth, backed by a strong backlog and new business initiatives. The company's full-year guidance anticipates a revenue growth of 1-2% and adjusted EPS growth exceeding 10%. CEO Matthew Crawford expressed optimism for the company's future performance, despite current industrial market challenges.
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