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CLEVELAND, OH - Park-Ohio Holdings Corp. (NASDAQ:PKOH), a $281 million market cap industrial manufacturer trading at an attractive P/E ratio of 6.5, conducted its Annual Meeting of Shareholders on Thursday, where shareholders voted on several key proposals. The company, which operates in the metal forging and stampings industry and maintains a 2.54% dividend yield with a 12-year history of consistent payments, reported the results of the meeting in a recent 8-K filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock currently appears undervalued compared to its Fair Value.
In the first proposal, shareholders elected Edward F. Crawford, John D. Grampa, and Steven H. Rosen as directors to serve until the 2028 Annual Meeting of Shareholders. The votes cast for each director nominee were as follows: Crawford received 10,667,261 for and 920,491 withheld; Grampa received 10,732,970 for and 854,782 withheld; Rosen received 10,301,516 for and 1,286,236 withheld. All three nominees experienced broker non-votes totaling 696,205.
The second proposal involved the approval of the Amendment and Restatement of the Park-Ohio Holdings Corp. 2021 Equity and Incentive Compensation Plan. The plan was approved with 9,509,137 votes for, 2,049,559 against, and 29,056 abstentions, along with 696,205 broker non-votes.
For the third proposal, shareholders ratified the appointment of Ernst & Young LLP as the company’s independent public accounting firm for the year 2025. The accounting firm was ratified with 12,154,280 votes for, 128,764 against, and 913 abstentions.
The 8-K filing also confirmed that the company is not an emerging growth company as defined in the Securities Act and the Securities Exchange Act, and it has not elected to use the extended transition period for complying with any new or revised financial accounting standards.
This report was signed on behalf of Park-Ohio Holdings Corp. by Robert D. Vilsack, Chief Legal and Administrative Officer, Corporate Secretary, on the date of the meeting, May 15, 2025. The information provided in this article is based on the company’s SEC filing.
In other recent news, Park Ohio Holdings Corp reported its Q1 2025 earnings, missing expectations. The company posted an adjusted earnings per share of $0.66, which fell short of the forecasted $0.91. Revenue for the quarter was $405 million, below the anticipated $442.7 million. This significant miss in both earnings and revenue has contributed to negative investor sentiment. Park Ohio has provided a 2025 net sales forecast of $1.6-1.7 billion, with adjusted earnings guidance between $3.00-$3.50 per share. The company expects improved free cash flow year-over-year and anticipates a full-year effective tax rate of 20-23%. Despite the challenges, Park Ohio’s Engineered Products segment showed strong performance, and the company is focusing on reshaping its business by closing non-strategic locations. Analysts from firms like KeyBanc Capital Markets have inquired about the impact of tariffs and market uncertainty on the company’s performance.
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