Dimensional Fund Advisors LP Acquires 12,267 Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Dimensional Fund Advisors LP boosted its stake in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 779,363 shares of the industrial products company’s stock after acquiring an additional 12,267 shares during the period. Dimensional Fund Advisors LP owned 5.96% of Park-Ohio worth $20,177,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Park-Ohio by 0.5% in the second 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 in the last quarter. Empowered Funds LLC raised its position in shares of Park-Ohio by 7.8% in the 1st quarter. Empowered Funds LLC now owns 9,618 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 700 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Park-Ohio by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 449 shares during the period. BNP Paribas Financial Markets grew its stake 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 worth $289,000 after purchasing an additional 2,036 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Park-Ohio by 0.7% in the first quarter. Vanguard Group Inc. now owns 442,830 shares of the industrial products company’s stock worth $11,815,000 after purchasing an additional 3,236 shares in the last quarter. 51.38% of the stock is owned by hedge funds and other institutional investors.

Park-Ohio Price Performance

Shares of NASDAQ PKOH opened at $29.64 on Friday. The company has a 50 day moving average of $29.06 and a 200 day moving average of $26.90. The company has a quick ratio of 1.22, a current ratio of 2.42 and a debt-to-equity ratio of 2.22. Park-Ohio Holdings Corp. has a twelve month low of $19.34 and a twelve month high of $31.95. The firm has a market cap of $390.66 million, a P/E ratio of 32.57 and a beta of 1.16.

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

Park-Ohio Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.69%. The ex-dividend date was Friday, August 2nd. Park-Ohio’s dividend payout ratio is presently 54.95%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Park-Ohio from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th.

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.