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

StockNews.com downgraded shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a research note released on Tuesday.

Park-Ohio Price Performance

Park-Ohio stock traded down $0.11 during mid-day trading on Tuesday, reaching $32.89. The company had a trading volume of 6,334 shares, compared to its average volume of 27,195. Park-Ohio has a fifty-two week low of $22.32 and a fifty-two week high of $34.50. The business has a fifty day simple moving average of $29.60 and a 200 day simple moving average of $27.87. The company has a current ratio of 2.45, a quick ratio of 1.22 and a debt-to-equity ratio of 1.90. The company has a market cap of $461.78 million, a P/E ratio of 26.40 and a beta of 1.16.

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

Park-Ohio Dividend Announcement

The firm 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 of this dividend is Friday, November 15th. This represents a $0.50 dividend on an annualized basis and a yield of 1.52%. Park-Ohio’s payout ratio is currently 40.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in Park-Ohio by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 95,170 shares of the industrial products company’s stock worth $2,464,000 after purchasing an additional 496 shares during the period. First Eagle Investment Management LLC increased its position in Park-Ohio by 41.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock valued at $4,096,000 after buying an additional 46,660 shares in the last quarter. Empowered Funds LLC increased its position in Park-Ohio by 7.8% in the 1st quarter. Empowered Funds LLC now owns 9,618 shares of the industrial products company’s stock valued at $257,000 after buying an additional 700 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Park-Ohio by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 449 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Park-Ohio by 23.1% during the first quarter. BNP Paribas Financial Markets now owns 10,831 shares of the industrial products company’s stock valued at $289,000 after buying an additional 2,036 shares during the last quarter. 51.38% of the stock is owned by institutional investors and hedge funds.

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.