Park-Ohio (NASDAQ:PKOH) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.81 and traded as high as $28.96. Park-Ohio shares last traded at $26.70, with a volume of 44,167 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised Park-Ohio from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th.

Park-Ohio Price Performance

The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.26. The business’s 50 day moving average price is $30.81 and its 200 day moving average price is $28.80. The stock has a market capitalization of $374.87 million, a P/E ratio of 21.36 and a beta of 1.18.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.18. The business had revenue of $417.60 million during the quarter. Park-Ohio had a net margin of 1.01% and a return on equity of 14.64%.

Park-Ohio Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.125 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.50 annualized dividend and a yield of 1.87%. Park-Ohio’s payout ratio is 40.00%.

Insider Buying and Selling at Park-Ohio

In other news, insider Robert D. Vilsack sold 3,556 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $31.67, for a total transaction of $112,618.52. Following the completion of the sale, the insider now owns 187,764 shares of the company’s stock, valued at $5,946,485.88. The trade was a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patrick V. Auletta sold 9,800 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $31.43, for a total value of $308,014.00. Following the completion of the transaction, the director now directly owns 12,135 shares in the company, valued at approximately $381,403.05. This represents a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 33.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC purchased a new position in Park-Ohio during the third quarter valued at approximately $1,758,000. Empowered Funds LLC lifted its stake in shares of Park-Ohio by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 10,874 shares of the industrial products company’s stock valued at $334,000 after buying an additional 536 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Park-Ohio by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 95,170 shares of the industrial products company’s stock worth $2,464,000 after buying an additional 496 shares during the period. First Eagle Investment Management LLC increased its stake in Park-Ohio by 41.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock worth $4,096,000 after buying an additional 46,660 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Park-Ohio by 1,986.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 1,510 shares during the period. 51.38% of the stock is currently owned by 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.