Park-Ohio (NASDAQ:PKOH) Cut to Hold at StockNews.com

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

Park-Ohio Stock Performance

PKOH stock opened at $23.79 on Tuesday. Park-Ohio has a 1-year low of $22.74 and a 1-year high of $34.50. The company has a current ratio of 2.45, a quick ratio of 1.26 and a debt-to-equity ratio of 1.90. The stock has a 50-day moving average price of $25.14 and a 200-day moving average price of $28.33. The firm has a market cap of $334.06 million, a PE ratio of 19.03 and a beta of 1.20.

Park-Ohio Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, February 7th. Park-Ohio’s payout ratio is 40.00%.

Insider Activity

In other news, Director Patrick V. Auletta sold 9,800 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $31.43, for a total value of $308,014.00. Following the completion of the sale, the director now directly owns 12,135 shares in the company, valued at $381,403.05. This trade represents a 44.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert D. Vilsack sold 3,556 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $31.67, for a total value of $112,618.52. Following the transaction, the insider now directly owns 187,764 shares in the company, valued at approximately $5,946,485.88. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.04% of the stock is currently owned by company insiders.

Institutional Trading of Park-Ohio

Several hedge funds have recently bought and sold shares of PKOH. Segall Bryant & Hamill LLC bought a new position in shares of Park-Ohio in the third quarter valued at $1,758,000. Empowered Funds LLC raised its holdings in shares of Park-Ohio by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 10,874 shares of the industrial products company’s stock worth $334,000 after acquiring an additional 536 shares during the last quarter. Geode Capital Management LLC lifted its position in Park-Ohio by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 194,982 shares of the industrial products company’s stock valued at $5,987,000 after acquiring an additional 2,928 shares in the last quarter. Jane Street Group LLC acquired a new position in Park-Ohio during the 3rd quarter valued at about $242,000. Finally, Barclays PLC increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 51.38% 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.