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

Park-Ohio Holdings Corp. (NASDAQ:PKOHGet Free Report) declared a quarterly dividend on Friday, January 26th, Zacks reports. Stockholders of record on Friday, February 9th will be given a dividend of 0.125 per share by the industrial products company on Friday, February 23rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, February 8th.

Park-Ohio has increased its dividend payment by an average of 26.0% per year over the last three years. Park-Ohio has a dividend payout ratio of 11.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Park-Ohio to earn $3.86 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 13.0%.

Park-Ohio Price Performance

PKOH opened at $24.03 on Tuesday. The company has a fifty day moving average price of $25.19 and a two-hundred day moving average price of $22.28. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.24 and a current ratio of 2.14. Park-Ohio has a 52 week low of $10.90 and a 52 week high of $28.79. The firm has a market capitalization of $314.55 million, a PE ratio of -120.14 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. TheStreet raised shares of Park-Ohio from a “d+” rating to a “c” rating in a research report on Monday, October 16th. StockNews.com raised shares of Park-Ohio from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th.

View Our Latest Stock Report on Park-Ohio

Insider Activity at Park-Ohio

In other Park-Ohio news, Director Dan T. Moore III sold 10,239 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $24.29, for a total transaction of $248,705.31. Following the sale, the director now directly owns 61,616 shares of the company’s stock, valued at approximately $1,496,652.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Park-Ohio news, Director Dan T. Moore III sold 5,492 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $23.76, for a total transaction of $130,489.92. Following the sale, the director now directly owns 49,808 shares of the company’s stock, valued at approximately $1,183,438.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dan T. Moore III sold 10,239 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $24.29, for a total transaction of $248,705.31. Following the sale, the director now directly owns 61,616 shares in the company, valued at $1,496,652.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,731 shares of company stock valued at $700,775. 33.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in Park-Ohio by 501.8% in the 1st quarter. Bank of America Corp DE now owns 2,335 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,947 shares during the last quarter. Barclays PLC acquired a new position in Park-Ohio in the 2nd quarter valued at about $32,000. Tower Research Capital LLC TRC grew its stake in Park-Ohio by 76.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,003 shares of the industrial products company’s stock valued at $38,000 after buying an additional 865 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of Park-Ohio during the 2nd quarter worth approximately $53,000. Finally, BNP Paribas Arbitrage SNC grew its position in shares of Park-Ohio by 26,490.9% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 2,925 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 2,914 shares in the last quarter. 48.16% of the stock is currently owned by institutional investors and hedge funds.

About Park-Ohio

(Get Free Report)

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.

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Dividend History for Park-Ohio (NASDAQ:PKOH)

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