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Edward F. Crawford, a director at Park Ohio Holdings Corp (NASDAQ:PKOH), recently sold shares of the company’s common stock, according to a regulatory filing. On March 12, Crawford disposed of a total of 23,500 shares, generating approximately $486,610. The shares were sold at prices ranging from $21.3404 to $21.8864 per share. The sale comes as the stock trades near its 52-week low of $21.00, having declined over 25% in the past six months. According to InvestingPro analysis, the stock currently trades at an attractive P/E ratio of 8.8x.
Following these transactions, Crawford, through various indirect holdings, maintains ownership of several shares in Park Ohio Holdings. The transactions were conducted by L’Accent Provence, a corporation in which Crawford is a minority shareholder. He has disclaimed beneficial ownership of the securities beyond his pecuniary interest.
Park Ohio Holdings Corp, based in Cleveland, Ohio, operates in the metal forging and stampings industry. The company provides supply chain management outsourcing, capital equipment, and manufactured components. With a market capitalization of $294 million, the company maintains strong liquidity with a current ratio of 2.32, though it operates with a significant debt-to-equity ratio of 2.02. InvestingPro subscribers can access 10 additional key insights and a comprehensive analysis of the company’s financial health.
In other recent news, Park Ohio Holdings Corp. reported its fourth-quarter 2024 earnings, which fell short of analysts’ expectations. The company announced an earnings per share (EPS) of $0.67, missing the forecast of $0.71, and recorded revenue of $388.4 million, below the anticipated $419.1 million. Despite these results, Park Ohio Holdings showed resilience throughout 2024, achieving consolidated net sales of $1.7 billion, consistent with the previous year, and a GAAP EPS of $3.19, an 18% increase from 2023. Additionally, the company saw improvements in gross margins and EBITDA, with a 13% rise in EBITDA to $152 million. Looking ahead to 2025, Park Ohio Holdings anticipates revenue growth of 2-4%, driven by its diversified industrial business model. The company has also outlined plans to focus on strategic acquisitions to enhance its profitable segments. CEO Matt Crawford highlighted the strategic shift towards a less asset-intensive model, aiming to reduce capital expenses and boost operational efficiencies.
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