Park-Ohio (NASDAQ:PKOH) Upgraded by StockNews.com to “Buy”

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

Park-Ohio Stock Performance

Park-Ohio stock opened at $29.60 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.22 and a debt-to-equity ratio of 2.22. The firm has a 50-day moving average of $28.98 and a 200-day moving average of $27.03. The firm has a market cap of $386.90 million, a P/E ratio of 32.53 and a beta of 1.15. Park-Ohio has a 1-year low of $21.93 and a 1-year high of $31.95.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.08. The company had revenue of $432.60 million during the quarter. Park-Ohio had a net margin of 1.09% and a return on equity of 14.72%. During the same quarter in the prior year, the company posted $0.83 earnings per share.

Park-Ohio Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.125 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.69%. Park-Ohio’s dividend payout ratio is currently 54.95%.

Institutional Trading of Park-Ohio

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Park-Ohio by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 779,363 shares of the industrial products company’s stock worth $20,177,000 after buying an additional 12,267 shares during the period. Vanguard Group Inc. lifted its holdings in Park-Ohio by 0.7% in the first quarter. Vanguard Group Inc. now owns 442,830 shares of the industrial products company’s stock worth $11,815,000 after buying an additional 3,236 shares during the period. Acadian Asset Management LLC lifted its holdings in Park-Ohio by 0.4% in the first quarter. Acadian Asset Management LLC now owns 246,968 shares of the industrial products company’s stock worth $6,584,000 after buying an additional 1,074 shares during the period. First Eagle Investment Management LLC lifted its holdings in Park-Ohio by 41.8% in the second quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock worth $4,096,000 after buying an additional 46,660 shares during the period. Finally, Bank of New York Mellon Corp lifted 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 buying an additional 496 shares during the period. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

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.