Park-Ohio (NASDAQ:PKOH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Park-Ohio (NASDAQ:PKOH) from a hold rating to a buy rating in a research report released on Wednesday morning.

Park-Ohio Stock Down 0.4 %

NASDAQ:PKOH opened at $22.80 on Wednesday. The company’s fifty day moving average price is $24.86 and its 200-day moving average price is $28.16. Park-Ohio has a 1-year low of $22.43 and a 1-year high of $34.50. The firm has a market capitalization of $320.16 million, a P/E ratio of 18.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.26.

Park-Ohio Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Friday, February 7th. Park-Ohio’s dividend payout ratio (DPR) is presently 40.00%.

Insider Buying and Selling

In related news, insider Robert D. Vilsack sold 3,556 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $31.67, for a total transaction of $112,618.52. Following the sale, the insider now directly owns 187,764 shares of the company’s stock, valued at approximately $5,946,485.88. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 33.04% of the stock is currently owned by insiders.

Institutional Trading of Park-Ohio

A number of hedge funds have recently added to or reduced their stakes in PKOH. Federated Hermes Inc. lifted its holdings in Park-Ohio by 74.9% during the fourth quarter. Federated Hermes Inc. now owns 2,204 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 944 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Park-Ohio by 105.2% during the third quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 1,669 shares in the last quarter. SG Americas Securities LLC purchased a new position in Park-Ohio during the fourth quarter valued at $106,000. Wells Fargo & Company MN lifted its holdings in Park-Ohio by 33.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,272 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 1,328 shares in the last quarter. Finally, L & S Advisors Inc purchased a new position in Park-Ohio during the third quarter valued at $230,000. 51.38% of the stock is owned by hedge funds and other institutional investors.

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.