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

StockNews.com downgraded shares of Park-Ohio (NASDAQ:PKOH) from a strong-buy rating to a buy rating in a research report released on Friday.

Park-Ohio Stock Performance

Shares of PKOH stock opened at $24.09 on Friday. The company has a 50 day moving average price of $25.28 and a 200-day moving average price of $24.79. Park-Ohio has a 52 week low of $12.25 and a 52 week high of $28.79. The firm has a market capitalization of $314.86 million, a PE ratio of 38.24 and a beta of 1.23. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 2.18.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. The company had revenue of $389.30 million during the quarter, compared to the consensus estimate of $386.45 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. As a group, equities research analysts expect that Park-Ohio will post 3.36 earnings per share for the current year.

Park-Ohio Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, May 2nd. Park-Ohio’s payout ratio is 79.37%.

Insider Buying and Selling

In related news, Director James W. Wert sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.02, for a total value of $27,020.00. Following the transaction, the director now owns 84,190 shares of the company’s stock, valued at $2,274,813.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Park-Ohio news, Director James W. Wert sold 1,500 shares of Park-Ohio stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total transaction of $38,970.00. Following the transaction, the director now owns 82,690 shares of the company’s stock, valued at $2,148,286.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Wert sold 1,000 shares of Park-Ohio stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.02, for a total transaction of $27,020.00. Following the transaction, the director now directly owns 84,190 shares in the company, valued at approximately $2,274,813.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,500 shares of company stock valued at $91,990. 33.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Park-Ohio

Large investors have recently added to or reduced their stakes in the company. Barclays PLC purchased a new position in Park-Ohio during the second quarter valued at approximately $32,000. Gladius Capital Management LP bought a new position in shares of Park-Ohio during the third quarter worth $37,000. Covestor Ltd boosted its position in shares of Park-Ohio by 6,160.0% during the third quarter. Covestor Ltd now owns 2,817 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 2,772 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Park-Ohio by 146.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,064 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Park-Ohio during the third quarter worth $60,000. Hedge funds and other institutional investors own 51.38% of the company’s stock.

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.