Short Interest in Park-Ohio Holdings Corp. (NASDAQ:PKOH) Grows By 22.5%

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Park-Ohio Holdings Corp. (NASDAQ:PKOH) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 93,200 shares, an increase of 22.5% from the July 31st total of 76,100 shares. Based on an average daily volume of 28,800 shares, the short-interest ratio is currently 3.2 days. Approximately 1.1% of the shares of the company are short sold.

In related news, Director Ronna Romney sold 5,000 shares of Park-Ohio stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $26.14, for a total transaction of $130,700.00. Following the transaction, the director now owns 18,909 shares of the company’s stock, valued at approximately $494,281.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James W. Wert acquired 2,500 shares of Park-Ohio stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $27.62 per share, for a total transaction of $69,050.00. Following the purchase, the director now directly owns 80,320 shares in the company, valued at $2,218,438.40. The disclosure for this purchase can be found here. 31.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dupont Capital Management Corp bought a new position in Park-Ohio during the second quarter valued at approximately $472,000. Dimensional Fund Advisors LP increased its holdings in shares of Park-Ohio by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 896,556 shares of the industrial products company’s stock valued at $27,515,000 after acquiring an additional 18,974 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Park-Ohio by 24.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,640 shares of the industrial products company’s stock valued at $347,000 after acquiring an additional 2,100 shares during the period. Olstein Capital Management L.P. grew its stake in Park-Ohio by 4.8% during the 2nd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the industrial products company’s stock worth $1,630,000 after buying an additional 2,300 shares during the last quarter. Finally, Denali Advisors LLC lifted its position in Park-Ohio by 227.0% during the 2nd quarter. Denali Advisors LLC now owns 12,743 shares of the industrial products company’s stock worth $415,000 after acquiring an additional 8,846 shares during the period. Institutional investors and hedge funds own 54.67% of the company’s stock.

Shares of PKOH traded up $0.53 during trading hours on Friday, reaching $32.71. 10,095 shares of the company’s stock traded hands, compared to its average volume of 27,414. The firm’s 50 day simple moving average is $28.45 and its 200-day simple moving average is $32.02. The stock has a market cap of $383.89 million, a PE ratio of 7.64 and a beta of 2.36. Park-Ohio has a 12 month low of $25.74 and a 12 month high of $40.10. The company has a current ratio of 2.37, a quick ratio of 1.32 and a debt-to-equity ratio of 1.89.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Monday, August 5th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.07. The firm had revenue of $415.30 million for the quarter, compared to analysts’ expectations of $438.60 million. Park-Ohio had a return on equity of 16.77% and a net margin of 2.89%. As a group, analysts expect that Park-Ohio will post 4.44 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Monday, August 12th. Park-Ohio’s dividend payout ratio is 11.68%.

PKOH has been the topic of a number of recent analyst reports. B. Riley lowered their target price on shares of Park-Ohio from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. ValuEngine cut shares of Park-Ohio from a “sell” rating to a “strong sell” rating in a research report on Friday, June 7th. Zacks Investment Research cut shares of Park-Ohio from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. BidaskClub raised shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, TheStreet cut Park-Ohio from a “b-” rating to a “c+” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $30.50.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, and internationally. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.

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