StockNews.com Downgrades Park-Ohio (NASDAQ:PKOH) to Hold

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

Park-Ohio Price Performance

PKOH opened at $21.28 on Thursday. The company’s 50-day simple moving average is $24.45 and its two-hundred day simple moving average is $27.88. Park-Ohio has a 52-week low of $21.00 and a 52-week high of $34.50. The stock has a market capitalization of $302.84 million, a P/E ratio of 17.02 and a beta of 1.16. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.26 and a current ratio of 2.45.

Park-Ohio Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, February 7th. Park-Ohio’s dividend payout ratio is presently 20.49%.

Institutional Investors Weigh In On Park-Ohio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKOH. Federated Hermes Inc. increased its stake in Park-Ohio by 74.9% in the 4th quarter. Federated Hermes Inc. now owns 2,204 shares of the industrial products company’s stock worth $58,000 after buying an additional 944 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Park-Ohio by 105.2% during the third quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 1,669 shares in the last quarter. SG Americas Securities LLC bought a new stake in Park-Ohio during the 4th quarter valued at approximately $106,000. Wells Fargo & Company MN boosted its stake in Park-Ohio by 33.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,272 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 1,328 shares during the period. Finally, L & S Advisors Inc purchased a new stake in Park-Ohio during the 3rd quarter valued at approximately $230,000. 51.38% of the stock is 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.