246,800 Park-Ohio Holdings Corp. $PKOH Shares Sold by Private Management Group Inc.

Private Management Group Inc. lowered its holdings in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 27.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 645,494 shares of the industrial products company’s stock after selling 246,800 shares during the period. Private Management Group Inc. owned about 4.45% of Park-Ohio worth $29,822,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PKOH. State of Alaska Department of Revenue acquired a new position in shares of Park-Ohio in the 3rd quarter worth approximately $27,000. Legal & General Group Plc bought a new position in shares of Park-Ohio in the 2nd quarter worth about $38,000. USA Financial Formulas bought a new position in shares of Park-Ohio in the 3rd quarter worth about $43,000. Commonwealth Equity Services LLC acquired a new position in shares of Park-Ohio in the 3rd quarter valued at about $268,000. Finally, Ancora Advisors LLC lifted 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 valued at $302,000 after purchasing an additional 7,756 shares during the period. 51.38% of the stock is owned by institutional investors and hedge funds.

Park-Ohio Stock Performance

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 company has a market cap of $675.52 million, a price-to-earnings ratio of 15.10, a PEG ratio of 1.11 and a beta of 1.34. The company’s fifty day moving average price is $45.85 and its two-hundred day moving average price is $35.51. The company has a current ratio of 2.40, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66.

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

Park-Ohio Announces Dividend

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

Insider Buying and Selling

In other news, Director James Wert sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $47.50, for a total value of $142,500.00. Following the completion of the sale, the director directly owned 85,456 shares of the company’s stock, valued at $4,059,160. This represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Vilsack sold 3,190 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $46.42, for a total value of $148,079.80. Following the completion of the transaction, the insider owned 144,024 shares in the company, valued at $6,685,594.08. This represents a 2.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,330 shares of company stock valued at $2,438,390 over the last three months. Corporate insiders own 31.10% of the company’s stock.

Wall Street Analyst Weigh In

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

About Park-Ohio

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.