Park-Ohio Holdings Corp. $PKOH Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 27.7% during the 3rd quarter, Holdings Channel reports. The firm owned 645,494 shares of the industrial products company’s stock after selling 246,800 shares during the quarter. Private Management Group Inc.’s holdings in Park-Ohio were worth $29,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in Park-Ohio in the 3rd quarter worth about $27,000. Legal & General Group Plc bought a new position in shares of Park-Ohio during the 2nd quarter worth approximately $38,000. USA Financial Formulas bought a new position in shares of Park-Ohio during the 3rd quarter worth approximately $43,000. Commonwealth Equity Services LLC bought a new position in shares of Park-Ohio during the 3rd quarter worth approximately $268,000. Finally, Ancora Advisors LLC boosted its stake in shares of Park-Ohio by 7,756.0% in the 2nd quarter. Ancora Advisors LLC now owns 7,856 shares of the industrial products company’s stock worth $302,000 after buying an additional 7,756 shares during the last quarter. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

Park-Ohio Trading Up 7.4%

NASDAQ:PKOH opened at $46.62 on Tuesday. Park-Ohio Holdings Corp. has a 1 year low of $18.69 and a 1 year high of $53.30. The stock’s fifty day moving average price is $45.85 and its two-hundred day moving average price is $35.51. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.40 and a quick ratio of 1.26. The company has a market cap of $675.52 million, a P/E ratio of 15.10, a P/E/G ratio of 1.11 and a beta of 1.34.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.14. Park-Ohio had a return on equity of 10.55% and a net margin of 1.60%. The company had revenue of $458.50 million during the quarter, compared to analysts’ expectations of $432.13 million. As a group, analysts expect that Park-Ohio Holdings Corp. will post 3.39 EPS for the current year.

Park-Ohio Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a $0.1250 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.50 annualized dividend and a yield of 1.1%. Park-Ohio’s dividend payout ratio (DPR) is currently 26.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Park-Ohio from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. KeyCorp increased their price target on Park-Ohio from $45.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded Park-Ohio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 13th. Finally, Zacks Research cut Park-Ohio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Insiders Place Their Bets

In other Park-Ohio news, insider Robert Vilsack sold 9,000 shares of Park-Ohio stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $47.44, for a total transaction of $426,960.00. Following the completion of the transaction, the insider owned 167,836 shares of the company’s stock, valued at $7,962,139.84. The trade was a 5.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Wert sold 3,000 shares of Park-Ohio stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $47.50, for a total value of $142,500.00. Following the transaction, the director directly owned 85,456 shares of the company’s stock, valued at $4,059,160. The trade was a 3.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,330 shares of company stock worth $2,438,390 in the last quarter. 31.10% of the stock is owned by company insiders.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. (NASDAQ: PKOH) is a diversified manufacturing and supply-chain management company serving original equipment manufacturers and other industrial customers. Through its operating businesses, the company provides engineered products, component manufacturing, and integrated supply-chain services.

Park-Ohio’s manufacturing activities include the production of forged, machined, stamped, molded, and assembled components, as well as specialized products made from metal, rubber, and other materials.