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

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

Park-Ohio Trading Up 3.0 %

NASDAQ:PKOH opened at $24.09 on Friday. Park-Ohio has a 1-year low of $12.25 and a 1-year high of $28.79. The business’s 50-day moving average price is $25.28 and its two-hundred day moving average price is $24.75. 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 firm has a market capitalization of $314.86 million, a price-to-earnings ratio of 38.24 and a beta of 1.23.

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

Park-Ohio Announces Dividend

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

Insiders Place Their Bets

In other Park-Ohio news, Director James W. Wert sold 1,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $27.02, for a total value of $27,020.00. Following the completion of the sale, the director now directly owns 84,190 shares in the company, valued at $2,274,813.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director James W. Wert sold 1,500 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $25.98, for a total transaction of $38,970.00. Following the completion of the transaction, the director now directly owns 82,690 shares in the company, valued at $2,148,286.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James W. Wert sold 1,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was 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 disclosure for this sale can be found here. Insiders sold 3,500 shares of company stock worth $91,990 over the last ninety days. 35.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PKOH. Barclays PLC bought a new position in Park-Ohio in the second quarter valued at approximately $32,000. Gladius Capital Management LP bought a new position in Park-Ohio in the third quarter valued at approximately $37,000. Covestor Ltd grew its stake in Park-Ohio by 6,160.0% in the third quarter. Covestor Ltd now owns 2,817 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 2,772 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Park-Ohio by 146.9% in the fourth 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Park-Ohio in the third quarter valued at approximately $60,000. 51.38% of the stock is currently 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.