Park-Ohio Holdings Corp. Announces Quarterly Dividend of $0.13 (NASDAQ:PKOH)

Park-Ohio Holdings Corp. (NASDAQ:PKOH) declared a quarterly dividend on Friday, April 19th, Zacks reports. Investors of record on Friday, May 3rd will be given a dividend of 0.125 per share by the industrial products company on Friday, May 17th. This represents a $0.50 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, May 2nd.

Park-Ohio has raised its dividend payment by an average of 26.0% per year over the last three years. Park-Ohio has a dividend payout ratio of 12.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Park-Ohio to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 12.5%.

Park-Ohio Price Performance

Park-Ohio stock opened at $23.90 on Friday. Park-Ohio has a 52 week low of $12.07 and a 52 week high of $28.79. The business has a 50-day simple moving average of $25.36 and a 200 day simple moving average of $24.62. 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 stock has a market cap of $312.37 million, a price-to-earnings ratio of 37.94 and a beta of 1.23.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Wednesday, March 6th. The industrial products company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. The business had revenue of $389.30 million for the quarter, compared to analysts’ expectations of $386.45 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, research analysts forecast that Park-Ohio will post 3.36 earnings per share for the current fiscal year.

Insider Transactions at Park-Ohio

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

Institutional Investors Weigh In On Park-Ohio

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Park-Ohio by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 439,594 shares of the industrial products company’s stock valued at $11,851,000 after acquiring an additional 4,378 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in Park-Ohio during the 4th quarter valued at about $223,000. GSA Capital Partners LLP boosted its holdings in Park-Ohio by 8.7% during the 4th quarter. GSA Capital Partners LLP now owns 15,251 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 1,226 shares during the period. Barclays PLC raised its position in Park-Ohio by 462.6% during the 4th quarter. Barclays PLC now owns 12,518 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 10,293 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Park-Ohio by 75.5% during the 4th quarter. Nuveen Asset Management LLC now owns 19,198 shares of the industrial products company’s stock valued at $518,000 after purchasing an additional 8,261 shares during the last quarter. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Park-Ohio from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

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.