Park-Ohio (NASDAQ:PKOH) Lowered to Hold Rating by StockNews.com

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

Park-Ohio Stock Down 2.7 %

PKOH stock opened at $32.57 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.22. The company has a 50-day moving average of $29.44 and a two-hundred day moving average of $27.77. The stock has a market capitalization of $457.28 million, a price-to-earnings ratio of 26.06 and a beta of 1.16. Park-Ohio has a 52-week low of $22.32 and a 52-week high of $34.50.

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

Park-Ohio Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 dividend yield of 1.54%. Park-Ohio’s payout ratio is 40.00%.

Institutional Investors Weigh In On Park-Ohio

Several hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Park-Ohio by 1,986.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 1,510 shares during the period. EMC Capital Management lifted its position in Park-Ohio by 166.1% in the third quarter. EMC Capital Management now owns 7,074 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 4,416 shares during the period. L & S Advisors Inc acquired a new stake in Park-Ohio during the third quarter worth $230,000. Price T Rowe Associates Inc. MD increased its holdings in 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 valued at $233,000 after buying an additional 449 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of 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. Institutional investors own 51.38% of the company’s stock.

About Park-Ohio

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.