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

StockNews.com lowered shares of Park-Ohio (NASDAQ:PKOH) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Park-Ohio Price Performance

Shares of Park-Ohio stock opened at $24.56 on Friday. Park-Ohio has a 12 month low of $12.34 and a 12 month high of $28.79. The company has a current ratio of 2.27, a quick ratio of 1.14 and a debt-to-equity ratio of 2.18. The business’s 50-day moving average price is $25.27 and its 200-day moving average price is $24.80. The firm has a market capitalization of $321.00 million, a PE ratio of 38.98 and a beta of 1.23.

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). The company had revenue of $389.30 million during the quarter, compared to analysts’ expectations of $386.45 million. Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. During the same period last year, the firm earned ($0.09) earnings per share. Sell-side analysts forecast that Park-Ohio will post 3.36 EPS for the current fiscal year.

Park-Ohio Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, May 2nd. Park-Ohio’s dividend payout ratio (DPR) is currently 79.37%.

Insider Buying and Selling at Park-Ohio

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC raised its stake in Park-Ohio by 32.6% during the 3rd quarter. Barclays PLC now owns 2,225 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 547 shares during the period. Schneider Downs Wealth Management Advisors LP boosted its holdings in shares of Park-Ohio by 4.4% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 19,155 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 810 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Park-Ohio by 146.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,064 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 1,228 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Park-Ohio during the third quarter valued at about $37,000. Finally, AJOVista LLC bought a new stake in shares of Park-Ohio in the fourth quarter worth about $65,000. 51.38% of the stock is owned by hedge funds and other 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.