Park-Ohio (NASDAQ:PKOH) Stock Rating Upgraded by StockNews.com

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

Park-Ohio Stock Up 0.4 %

Park-Ohio stock opened at $32.17 on Thursday. Park-Ohio has a twelve month low of $22.52 and a twelve month high of $34.50. The company has a quick ratio of 1.26, a current ratio of 2.45 and a debt-to-equity ratio of 1.90. The company has a 50 day moving average of $30.56 and a 200-day moving average of $28.42. The stock has a market capitalization of $451.67 million, a PE ratio of 25.74 and a beta of 1.16.

Park-Ohio (NASDAQ:PKOH) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.18. The firm had revenue of $417.60 million during the quarter. Park-Ohio had a net margin of 1.01% and a return on equity of 14.64%.

Park-Ohio Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, November 15th. Park-Ohio’s dividend payout ratio (DPR) is currently 40.00%.

Institutional Trading of Park-Ohio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in Park-Ohio by 1,986.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 1,510 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Park-Ohio by 105.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 1,669 shares in the last quarter. EMC Capital Management increased its position in shares of Park-Ohio by 166.1% in the third quarter. EMC Capital Management now owns 7,074 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 4,416 shares during the last quarter. L & S Advisors Inc bought a new stake in Park-Ohio during the third quarter worth about $230,000. Finally, Jane Street Group LLC acquired a new position in Park-Ohio during the third quarter valued at approximately $242,000. 51.38% of the stock is currently owned by institutional investors and hedge funds.

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.