Park-Ohio (NASDAQ:PKOH) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Park-Ohio Holdings Corp. (NASDAQ:PKOH)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $28.81 and traded as high as $28.96. Park-Ohio shares last traded at $26.70, with a volume of 44,167 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Park-Ohio from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th.

Park-Ohio Stock Down 2.8 %

The stock has a market cap of $365.65 million, a P/E ratio of 20.83 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.26 and a current ratio of 2.45. The firm’s 50-day moving average is $30.70 and its two-hundred day moving average is $28.79.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.18. The business had revenue of $417.60 million for the quarter. Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%.

Park-Ohio Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, November 15th. Park-Ohio’s dividend payout ratio (DPR) is 40.00%.

Insider Activity at Park-Ohio

In related news, Director Patrick V. Auletta sold 9,800 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $31.43, for a total value of $308,014.00. Following the completion of the sale, the director now owns 12,135 shares in the company, valued at approximately $381,403.05. This represents a 44.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert D. Vilsack sold 3,556 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $31.67, for a total value of $112,618.52. Following the transaction, the insider now owns 187,764 shares in the company, valued at approximately $5,946,485.88. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. 33.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of Park-Ohio by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 95,170 shares of the industrial products company’s stock valued at $2,464,000 after buying an additional 496 shares during the period. Empowered Funds LLC grew its stake in Park-Ohio by 5.2% in the third quarter. Empowered Funds LLC now owns 10,874 shares of the industrial products company’s stock valued at $334,000 after acquiring an additional 536 shares during the period. State Street Corp grew its stake in Park-Ohio by 0.8% in the third quarter. State Street Corp now owns 134,356 shares of the industrial products company’s stock valued at $4,125,000 after acquiring an additional 1,034 shares during the period. Aristeia Capital L.L.C. increased its holdings in shares of Park-Ohio by 11.3% in the second quarter. Aristeia Capital L.L.C. now owns 11,515 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Park-Ohio by 1,986.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 1,510 shares during the period. Institutional investors and hedge funds own 51.38% of the company’s stock.

Park-Ohio Company Profile

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.