Park-Ohio Holdings Corp. Announces Quarterly Dividend of $0.13 (NASDAQ:PKOH)

Park-Ohio Holdings Corp. (NASDAQ:PKOH) announced a quarterly dividend on Friday, April 19th, Zacks reports. Stockholders of record on Friday, May 3rd will be given a dividend of 0.125 per share by the industrial products company on Friday, May 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, May 2nd.

Park-Ohio has increased its dividend payment by an average of 26.0% per year over the last three years. Park-Ohio has a dividend payout ratio of 12.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Park-Ohio to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 12.5%.

Park-Ohio Stock Up 3.6 %

PKOH stock opened at $23.90 on Friday. Park-Ohio has a 52 week low of $12.07 and a 52 week high of $28.79. The stock has a market capitalization of $312.37 million, a P/E ratio of 37.94 and a beta of 1.23. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 2.18. The firm has a 50-day simple moving average of $25.36 and a 200-day simple moving average of $24.62.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings data on Wednesday, March 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $389.30 million for the quarter, compared to analysts’ expectations of $386.45 million. Park-Ohio had a net margin of 0.47% and a return on equity of 13.45%. During the same period in the prior year, the company posted ($0.09) EPS. Equities analysts forecast that Park-Ohio will post 3.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a report on Thursday.

Insider Transactions at Park-Ohio

In related news, Director James W. Wert sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total value of $38,970.00. Following the completion of the sale, the director now owns 82,690 shares in the company, valued at $2,148,286.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Park-Ohio news, Director James W. Wert sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total transaction of $38,970.00. Following the completion of the transaction, the director now directly owns 82,690 shares in the company, valued at approximately $2,148,286.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James W. Wert sold 1,000 shares of Park-Ohio stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the sale, the director now owns 89,190 shares of the company’s stock, valued at $2,318,940. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,500 shares of company stock worth $91,990. Company insiders own 35.60% of the company’s stock.

Institutional Investors Weigh In On Park-Ohio

A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in Park-Ohio by 5.3% in the third quarter. Rhumbline Advisers now owns 9,064 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 456 shares during the period. First Trust Advisors LP grew its holdings in Park-Ohio by 2.6% in the fourth quarter. First Trust Advisors LP now owns 22,659 shares of the industrial products company’s stock valued at $611,000 after purchasing an additional 571 shares during the period. BlackRock Inc. grew its holdings in Park-Ohio by 0.6% in the first quarter. BlackRock Inc. now owns 108,251 shares of the industrial products company’s stock valued at $1,308,000 after purchasing an additional 671 shares during the period. Citadel Advisors LLC grew its holdings in Park-Ohio by 4.3% in the fourth quarter. Citadel Advisors LLC now owns 17,768 shares of the industrial products company’s stock valued at $479,000 after purchasing an additional 738 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Park-Ohio by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,455 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 806 shares during the period. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

About Park-Ohio

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. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.