Park-Ohio (NASDAQ:PKOH) Stock Rating Lowered by StockNews.com

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

Park-Ohio Price Performance

PKOH stock opened at $18.25 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 2.20 and a debt-to-equity ratio of 2.36. Park-Ohio has a fifty-two week low of $10.30 and a fifty-two week high of $19.78. The firm’s 50-day simple moving average is $18.70 and its 200 day simple moving average is $16.12. The stock has a market cap of $238.51 million, a PE ratio of -21.22 and a beta of 1.34.

Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.83 earnings per share for the quarter, topping 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 business had revenue of $428.10 million for the quarter, compared to analysts’ expectations of $414.65 million. As a group, sell-side analysts predict that Park-Ohio will post 3.12 EPS for the current year.

Park-Ohio Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.50 dividend on an annualized basis and a yield of 2.74%. Park-Ohio’s dividend payout ratio is presently -58.14%.

Hedge Funds Weigh In On Park-Ohio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Management Group Inc. grew its position in Park-Ohio by 0.7% in the 1st quarter. Private Management Group Inc. now owns 981,616 shares of the industrial products company’s stock valued at $11,858,000 after buying an additional 6,774 shares in the last quarter. Gamco Investors INC. ET AL grew its position in Park-Ohio by 4.2% in the 2nd quarter. Gamco Investors INC. ET AL now owns 948,427 shares of the industrial products company’s stock valued at $18,020,000 after buying an additional 38,366 shares in the last quarter. FMR LLC boosted its position 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 valued at $14,779,000 after purchasing an additional 17,606 shares in the last quarter. BlackRock Inc. boosted its position 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 valued at $9,287,000 after purchasing an additional 380,560 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of Park-Ohio by 0.5% during the 2nd quarter. Gabelli Funds LLC now owns 475,100 shares of the industrial products company’s stock valued at $9,027,000 after purchasing an additional 2,500 shares in the last quarter. 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.