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

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

Park-Ohio Stock Performance

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

Park-Ohio (NASDAQ:PKOH) last released its earnings results on Wednesday, March 6th. The industrial products company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $386.45 million. During the same period last year, the business earned ($0.09) earnings per share. On average, sell-side analysts forecast that Park-Ohio will post 3.36 earnings per share for the current fiscal year.

Park-Ohio Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.50 annualized dividend and a dividend yield of 2.17%. Park-Ohio’s dividend payout ratio is presently 79.37%.

Insider Activity

In other Park-Ohio news, Director James W. Wert sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the director now owns 89,190 shares of the company’s stock, valued at $2,318,940. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director James W. Wert sold 1,000 shares of Park-Ohio stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the director now owns 89,190 shares in the company, valued at approximately $2,318,940. The transaction was disclosed in a legal filing 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 on Wednesday, March 27th. The stock was sold at an average price of $25.98, for a total value of $38,970.00. Following the transaction, 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 quarter, insiders have sold 3,500 shares of company stock valued at $91,990. 35.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Park-Ohio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Park-Ohio by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 439,594 shares of the industrial products company’s stock worth $11,851,000 after acquiring an additional 4,378 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Park-Ohio during the fourth quarter worth approximately $223,000. GSA Capital Partners LLP lifted its stake in Park-Ohio by 8.7% in the fourth quarter. GSA Capital Partners LLP now owns 15,251 shares of the industrial products company’s stock valued at $411,000 after buying an additional 1,226 shares during the last quarter. Barclays PLC lifted its stake in Park-Ohio by 462.6% in the fourth quarter. Barclays PLC now owns 12,518 shares of the industrial products company’s stock valued at $338,000 after buying an additional 10,293 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake 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 worth $518,000 after purchasing an additional 8,261 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.