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

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

Park-Ohio Trading Up 0.2 %

NASDAQ PKOH opened at $18.35 on Tuesday. Park-Ohio has a 12 month low of $10.30 and a 12 month high of $19.78. The company has a 50-day moving average of $18.77 and a 200-day moving average of $15.96. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.20 and a quick ratio of 1.26. The company has a market cap of $239.83 million, a P/E ratio of -21.34 and a beta of 1.34.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Park-Ohio had a negative net margin of 0.60% and a positive return on equity of 8.59%. The company had revenue of $428.10 million during the quarter, compared to the consensus estimate of $414.65 million. As a group, equities analysts predict that Park-Ohio will post 3.12 earnings per share for the current year.

Park-Ohio Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Friday, August 4th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Thursday, August 3rd. Park-Ohio’s payout ratio is currently -58.14%.

Institutional Trading of Park-Ohio

A number of institutional investors have recently modified their holdings of the company. Private Management Group Inc. grew its holdings in shares of Park-Ohio by 0.7% during the 1st quarter. Private Management Group Inc. now owns 981,616 shares of the industrial products company’s stock worth $11,858,000 after purchasing an additional 6,774 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Park-Ohio by 4.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 948,427 shares of the industrial products company’s stock worth $18,020,000 after purchasing an additional 38,366 shares during the period. FMR LLC grew its holdings in shares of Park-Ohio by 1.9% during the 2nd quarter. FMR LLC now owns 931,787 shares of the industrial products company’s stock worth $14,779,000 after purchasing an additional 17,606 shares during the period. BlackRock Inc. grew its holdings in shares of Park-Ohio by 351.6% during the 2nd quarter. BlackRock Inc. now owns 488,811 shares of the industrial products company’s stock worth $9,287,000 after purchasing an additional 380,560 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in Park-Ohio by 0.5% in the 2nd quarter. Gabelli Funds LLC now owns 475,100 shares of the industrial products company’s stock worth $9,027,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 48.16% of the company’s stock.

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.