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

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

Park-Ohio Trading Up 0.0 %

Shares of NASDAQ PKOH opened at $32.00 on Wednesday. The business has a 50 day simple moving average of $29.95 and a 200 day simple moving average of $28.07. Park-Ohio has a 52 week low of $22.32 and a 52 week high of $34.50. The stock has a market cap of $449.28 million, a price-to-earnings ratio of 25.60 and a beta of 1.16. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.26 and a current ratio of 2.45.

Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.18. The business had revenue of $417.60 million for the quarter. Park-Ohio had a net margin of 1.01% and a return on equity of 14.64%.

Park-Ohio Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, November 15th. This represents a $0.50 annualized dividend and a yield of 1.56%. Park-Ohio’s dividend payout ratio (DPR) is presently 40.00%.

Institutional Trading of Park-Ohio

Several large investors have recently modified their holdings of PKOH. Barclays PLC lifted its position in shares of Park-Ohio by 215.2% during the 3rd quarter. Barclays PLC now owns 12,003 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 8,195 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Park-Ohio by 1.5% in the third quarter. Geode Capital Management LLC now owns 194,982 shares of the industrial products company’s stock worth $5,987,000 after acquiring an additional 2,928 shares during the last quarter. Jane Street Group LLC bought a new position in Park-Ohio during the third quarter worth $242,000. State Street Corp raised its stake in Park-Ohio by 0.8% during the 3rd quarter. State Street Corp now owns 134,356 shares of the industrial products company’s stock valued at $4,125,000 after purchasing an additional 1,034 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in Park-Ohio by 46.0% in the 3rd quarter. Quadrature Capital Ltd now owns 11,707 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 3,691 shares during the period. 51.38% of the stock is 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.