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

StockNews.com upgraded shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a strong-buy rating in a report issued on Thursday.

Park-Ohio Price Performance

NASDAQ:PKOH opened at $23.08 on Thursday. Park-Ohio has a 52-week low of $12.07 and a 52-week high of $28.79. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 2.18. The firm has a market cap of $301.66 million, a P/E ratio of 36.64 and a beta of 1.23. The business’s 50-day moving average price is $25.37 and its 200 day moving average price is $24.59.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings data on Wednesday, March 6th. The industrial products company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $389.30 million for the quarter, compared to analyst estimates of $386.45 million. Park-Ohio had a net margin of 0.47% and a return on equity of 13.45%. During the same quarter last year, the company posted ($0.09) EPS. As a group, sell-side analysts predict that Park-Ohio will post 3.36 earnings per share for the current fiscal year.

Park-Ohio Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, February 8th. Park-Ohio’s dividend payout ratio is 79.37%.

Insiders Place Their Bets

In other news, Director James W. Wert sold 1,000 shares of the company’s 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 in the company, valued at approximately $2,274,813.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James W. Wert sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $27.02, for a total transaction of $27,020.00. Following the completion of the sale, the director now directly owns 84,190 shares of the company’s stock, valued at approximately $2,274,813.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Wert sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total transaction of $38,970.00. Following the transaction, the director now directly owns 82,690 shares in the company, valued at approximately $2,148,286.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,500 shares of company stock worth $91,990. Corporate insiders own 35.60% of the company’s stock.

Institutional Investors Weigh In On Park-Ohio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in shares of Park-Ohio in the third quarter valued at approximately $87,000. Ritholtz Wealth Management acquired a new position in Park-Ohio in the 4th quarter valued at $227,000. Los Angeles Capital Management LLC bought a new position in Park-Ohio in the 3rd quarter worth $1,197,000. Allspring Global Investments Holdings LLC acquired a new position in Park-Ohio during the 3rd quarter worth $60,000. Finally, First Eagle Investment Management LLC boosted its holdings in Park-Ohio by 3.7% during the third quarter. First Eagle Investment Management LLC now owns 110,478 shares of the industrial products company’s stock valued at $2,200,000 after acquiring an additional 3,919 shares during the period. 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.