Park-Ohio (NASDAQ:PKOH) Upgraded to “Buy” by StockNews.com

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

Park-Ohio Price Performance

PKOH traded up $0.07 during trading on Thursday, reaching $28.92. The company’s stock had a trading volume of 295 shares, compared to its average volume of 27,004. Park-Ohio has a 1 year low of $21.93 and a 1 year high of $31.95. The company has a market cap of $381.17 million, a price-to-earnings ratio of 20.61 and a beta of 1.15. The company has a quick ratio of 1.22, a current ratio of 2.42 and a debt-to-equity ratio of 2.22. The firm has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $27.00.

Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.08. The firm had revenue of $432.60 million for the quarter. Park-Ohio had a return on equity of 14.72% and a net margin of 1.09%. During the same quarter in the prior year, the company posted $0.83 earnings per share.

Park-Ohio Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.73%. Park-Ohio’s payout ratio is presently 35.71%.

Institutional Trading of Park-Ohio

A number of institutional investors and hedge funds have recently bought and sold shares of PKOH. Bank of New York Mellon Corp increased its holdings in Park-Ohio by 0.5% in the second 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 last quarter. First Eagle Investment Management LLC grew its stake in shares of Park-Ohio by 41.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock valued at $4,096,000 after purchasing an additional 46,660 shares during the last quarter. Empowered Funds LLC raised its position in Park-Ohio by 7.8% during the 1st quarter. Empowered Funds LLC now owns 9,618 shares of the industrial products company’s stock worth $257,000 after buying an additional 700 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Park-Ohio by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 449 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Park-Ohio by 23.1% in the 1st quarter. BNP Paribas Financial Markets now owns 10,831 shares of the industrial products company’s stock valued at $289,000 after buying an additional 2,036 shares during the period. 51.38% of the stock is currently 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.