Park-Ohio Holdings Corp. (PKOH) to Issue Quarterly Dividend of $0.13 on February 23rd

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

Park-Ohio has increased its dividend by an average of 26.0% per year over the last three years. Park-Ohio has a 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 Trading Down 4.0 %

PKOH opened at $24.03 on Tuesday. The business has a fifty day moving average price of $25.19 and a 200 day moving average price of $22.28. The company has a debt-to-equity ratio of 2.29, a current ratio of 2.14 and a quick ratio of 1.24. Park-Ohio has a 12 month low of $10.90 and a 12 month high of $28.79. The stock has a market capitalization of $314.55 million, a price-to-earnings ratio of -120.14 and a beta of 1.22.

Insider Transactions at Park-Ohio

In related news, Director Dan T. Moore III sold 5,492 shares of Park-Ohio stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $23.76, for a total value of $130,489.92. Following the sale, the director now directly owns 49,808 shares in the company, valued at $1,183,438.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Park-Ohio news, insider Robert D. Vilsack sold 6,500 shares of Park-Ohio stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $24.39, for a total transaction of $158,535.00. Following the completion of the transaction, the insider now owns 180,060 shares in the company, valued at $4,391,663.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dan T. Moore III sold 5,492 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $23.76, for a total value of $130,489.92. Following the sale, the director now owns 49,808 shares in the company, valued at approximately $1,183,438.08. The disclosure for this sale can be found here. In the last three months, insiders sold 28,731 shares of company stock valued at $700,775. Corporate insiders own 33.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PKOH. Bank of New York Mellon Corp grew its stake in Park-Ohio by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 70,469 shares of the industrial products company’s stock worth $991,000 after acquiring an additional 861 shares during the period. Vanguard Group Inc. grew its position in shares of Park-Ohio by 2.1% in the first quarter. Vanguard Group Inc. now owns 427,986 shares of the industrial products company’s stock valued at $6,022,000 after purchasing an additional 8,817 shares during the period. Gamco Investors INC. ET AL increased its stake in Park-Ohio by 10.1% in the first quarter. Gamco Investors INC. ET AL now owns 922,160 shares of the industrial products company’s stock valued at $12,975,000 after purchasing an additional 84,440 shares during the last quarter. Gabelli Funds LLC lifted its position in Park-Ohio by 6.0% during the first quarter. Gabelli Funds LLC now owns 466,062 shares of the industrial products company’s stock worth $6,557,000 after buying an additional 26,462 shares during the period. Finally, Teton Advisors Inc. boosted its stake in Park-Ohio by 5.3% in the 1st quarter. Teton Advisors Inc. now owns 200,047 shares of the industrial products company’s stock worth $2,815,000 after buying an additional 10,000 shares during the last quarter. 48.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PKOH. 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 report on Tuesday, January 30th.

Check Out Our Latest Analysis on PKOH

About Park-Ohio

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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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