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 sent to investors on Thursday morning.

Park-Ohio Stock Performance

PKOH stock opened at $21.53 on Thursday. The company has a quick ratio of 1.26, a current ratio of 2.45 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $306.39 million, a price-to-earnings ratio of 17.22 and a beta of 1.16. Park-Ohio has a 12 month low of $21.00 and a 12 month high of $34.50. The firm has a 50 day moving average of $24.37 and a two-hundred day moving average of $27.80.

Park-Ohio Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Park-Ohio’s payout ratio is 20.49%.

Insider Transactions at Park-Ohio

In other news, Director Edward F. Crawford sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $21.63, for a total value of $486,675.00. Following the completion of the sale, the director now directly owns 766,273 shares in the company, valued at approximately $16,574,484.99. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 33.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Park-Ohio

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. raised its stake in Park-Ohio by 74.9% during the 4th quarter. Federated Hermes Inc. now owns 2,204 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 944 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Park-Ohio by 105.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock valued at $100,000 after buying an additional 1,669 shares during the period. SG Americas Securities LLC bought a new stake in Park-Ohio in the 4th quarter valued at $106,000. Wells Fargo & Company MN increased its holdings in Park-Ohio by 33.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,272 shares of the industrial products company’s stock valued at $138,000 after buying an additional 1,328 shares during the period. Finally, L & S Advisors Inc bought a new stake in Park-Ohio in the 3rd quarter valued at $230,000. 51.38% of the stock is currently owned by institutional investors and hedge funds.

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.