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

StockNews.com lowered shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a research report released on Tuesday morning.

Park-Ohio Trading Up 0.3 %

Shares of PKOH opened at $30.32 on Tuesday. The company’s fifty day moving average is $27.46 and its 200 day moving average is $26.15. Park-Ohio has a fifty-two week low of $17.41 and a fifty-two week high of $31.95. The stock has a market capitalization of $396.31 million, a PE ratio of 33.32 and a beta of 1.18. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.22 and a current ratio of 2.42.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.08. The company had revenue of $432.60 million for the quarter. Park-Ohio had a net margin of 1.09% and a return on equity of 14.72%. During the same quarter in the prior year, the firm posted $0.83 EPS.

Park-Ohio Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Friday, August 2nd. Park-Ohio’s dividend payout ratio is currently 54.95%.

Insider Activity

In related news, CEO Matthew V. Crawford bought 5,272 shares of the stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $23.96 per share, with a total value of $126,317.12. Following the completion of the purchase, the chief executive officer now owns 864,813 shares of the company’s stock, valued at $20,720,919.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Matthew V. Crawford acquired 5,272 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $23.96 per share, for a total transaction of $126,317.12. Following the completion of the acquisition, the chief executive officer now directly owns 864,813 shares of the company’s stock, valued at approximately $20,720,919.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew V. Crawford acquired 5,091 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $24.19 per share, with a total value of $123,151.29. Following the completion of the acquisition, the chief executive officer now directly owns 869,904 shares of the company’s stock, valued at $21,042,977.76. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 20,802 shares of company stock valued at $507,252. 33.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Park-Ohio

A number of large investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Park-Ohio during the fourth quarter valued at about $75,000. AJOVista LLC acquired a new position in shares of Park-Ohio during the fourth quarter valued at about $65,000. Dimensional Fund Advisors LP increased its holdings in shares of Park-Ohio by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 751,077 shares of the industrial products company’s stock valued at $20,249,000 after acquiring an additional 26,215 shares in the last quarter. Trexquant Investment LP boosted its position in Park-Ohio by 43.6% in the fourth quarter. Trexquant Investment LP now owns 24,777 shares of the industrial products company’s stock valued at $668,000 after buying an additional 7,523 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Park-Ohio by 23.1% in the first quarter. BNP Paribas Financial Markets now owns 10,831 shares of the industrial products company’s stock valued at $289,000 after buying an additional 2,036 shares during the last quarter. 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.