FMR LLC & Abigail Johnson Divest Nearly All PARK OHIO Holdings
Ticker: PKOH · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 76282
| Field | Detail |
|---|---|
| Company | Park Ohio Holdings Corp (PKOH) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-selling, ownership-change, divestment
TL;DR
**FMR LLC and Abigail Johnson dumped almost all their PARK OHIO stock, now owning just 5 shares.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have significantly reduced their beneficial ownership in PARK OHIO HOLDINGS CORP to just 5 shares, representing 0.000% of the common stock. This update, filed on February 9, 2024, indicates a near-complete divestment from the company. This matters to investors because a large institutional holder like FMR LLC selling off almost its entire stake could signal a loss of confidence in PARK OHIO HOLDINGS CORP's future prospects, potentially leading to downward pressure on the stock price.
Why It Matters
This near-complete sell-off by a major institutional investor like FMR LLC could be interpreted as a bearish signal, potentially influencing other investors' perceptions and the stock's performance.
Risk Assessment
Risk Level: medium — The significant reduction in ownership by a major institutional investor could indicate underlying concerns, posing a moderate risk to current and prospective shareholders.
Analyst Insight
A smart investor would investigate the reasons behind FMR LLC's near-complete divestment from PARK OHIO HOLDINGS CORP and consider if this signals a fundamental issue before making any investment decisions.
Key Numbers
- 5 — Shares Beneficially Owned (This is the total number of shares FMR LLC and Abigail P. Johnson now own in PARK OHIO HOLDINGS CORP, down from a previous, undisclosed amount.)
- 0.000% — Percent of Class Owned (This indicates a near-complete divestment, showing virtually no ownership stake remaining.)
Key Players & Entities
- FMR LLC (company) — reporting person, parent holding company
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- PARK OHIO HOLDINGS CORP (company) — issuer of the common stock
- 5 (dollar_amount) — number of shares beneficially owned by FMR LLC and Abigail P. Johnson
- 0.000% (dollar_amount) — percentage of class beneficially owned by FMR LLC and Abigail P. Johnson
Forward-Looking Statements
- PARK OHIO HOLDINGS CORP's stock price may experience downward pressure due to the institutional divestment. (PARK OHIO HOLDINGS CORP) — medium confidence, target: Within 3 months
FAQ
Who filed this SC 13G/A amendment?
The SC 13G/A amendment was filed by FMR LLC and Abigail P. Johnson, as indicated in Item 1 of the filing for both reporting persons.
What is the issuer's name and address?
The issuer is PARK OHIO HLDGS CORP, with its principal executive offices located at 6065 PARKLAND BLVD, CLEVELAND, OHIO 44124 USA, as stated in Item 1(a) and 1(b) of the filing.
How many shares of PARK OHIO HOLDINGS CORP common stock does FMR LLC beneficially own now?
FMR LLC beneficially owns 5 shares of PARK OHIO HOLDINGS CORP common stock, as reported in Item 4(a) for FMR LLC.
What percentage of the class of securities does Abigail P. Johnson beneficially own?
Abigail P. Johnson beneficially owns 0.000% of the class of securities, as reported in Item 11 for Abigail P. Johnson.
Under which rule was this statement filed?
This statement is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing and further clarified in Item 3, stating FMR LLC is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding PARK OHIO HOLDINGS CORP (PKOH).