Park-Ohio (NASDAQ:PKOH) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Park-Ohio (NASDAQ:PKOH) from a strong-buy rating to a buy rating in a research report report published on Friday morning.

Park-Ohio Price Performance

PKOH stock opened at $24.09 on Friday. The firm has a 50 day moving average price of $25.28 and a 200-day moving average price of $24.75. Park-Ohio has a 52-week low of $12.25 and a 52-week high of $28.79. The firm has a market capitalization of $314.86 million, a price-to-earnings ratio of 38.24 and a beta of 1.23. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.14 and a current ratio of 2.27.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $389.30 million for the quarter, compared to the consensus estimate 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 last year, the business earned ($0.09) EPS. Equities research analysts forecast that Park-Ohio will post 3.36 EPS for the current fiscal year.

Park-Ohio Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.50 annualized dividend and a yield of 2.08%. Park-Ohio’s dividend payout ratio (DPR) is presently 79.37%.

Insider Activity at Park-Ohio

In related news, Director James W. Wert sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.02, for a total value of $27,020.00. Following the transaction, the director now directly owns 84,190 shares of the company’s stock, valued at approximately $2,274,813.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Park-Ohio news, Director James W. Wert sold 1,500 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 82,690 shares in the company, valued at approximately $2,148,286.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James W. Wert sold 1,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.02, for a total transaction of $27,020.00. Following the sale, the director now owns 84,190 shares of the company’s stock, valued at $2,274,813.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,500 shares of company stock valued at $91,990. 35.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Park-Ohio

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in Park-Ohio during the 2nd quarter valued at $32,000. Gladius Capital Management LP purchased a new stake in Park-Ohio during the 3rd quarter valued at $37,000. Covestor Ltd raised its stake in Park-Ohio by 6,160.0% during the 3rd quarter. Covestor Ltd now owns 2,817 shares of the industrial products company’s stock valued at $56,000 after buying an additional 2,772 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Park-Ohio by 146.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,064 shares of the industrial products company’s stock valued at $56,000 after buying an additional 1,228 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Park-Ohio during the 3rd quarter valued at $60,000. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

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