Park-Ohio Holdings Corp. (NASDAQ:PKOH) to Issue Quarterly Dividend of $0.13

Park-Ohio Holdings Corp. (NASDAQ:PKOH) declared a quarterly dividend on Friday, April 19th, Zacks reports. Investors of record on Friday, May 3rd will be paid a dividend of 0.125 per share by the industrial products company on Friday, May 17th. This represents a $0.50 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, May 2nd.

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 12.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Park-Ohio to earn $4.00 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 12.5%.

Park-Ohio Stock Performance

Shares of PKOH opened at $23.90 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.14 and a current ratio of 2.27. The company has a market capitalization of $312.37 million, a PE ratio of 37.94 and a beta of 1.23. Park-Ohio has a 52 week low of $12.07 and a 52 week high of $28.79. The company’s 50 day moving average price is $25.36 and its 200 day moving average price is $24.62.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Wednesday, March 6th. The industrial products company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $389.30 million during the quarter, compared to the consensus estimate of $386.45 million. Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. During the same period in the prior year, the firm earned ($0.09) earnings per share. Research analysts expect that Park-Ohio will post 3.36 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

Insiders Place Their Bets

In other news, Director James W. Wert sold 1,500 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total value of $38,970.00. Following the completion of the sale, the director now directly owns 82,690 shares in the company, valued at $2,148,286.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James W. Wert sold 1,500 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total value of $38,970.00. Following the completion of the sale, the director now directly owns 82,690 shares in the company, valued at $2,148,286.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James W. Wert sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the director now owns 89,190 shares of the company’s stock, valued at $2,318,940. The disclosure for this sale can be found here. Insiders sold 3,500 shares of company stock valued at $91,990 over the last ninety days. Corporate insiders own 35.60% of the company’s stock.

Hedge Funds Weigh In On Park-Ohio

Several large investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its stake in Park-Ohio by 0.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 954,227 shares of the industrial products company’s stock valued at $25,726,000 after purchasing an additional 3,600 shares during the last quarter. FMR LLC raised its stake in shares of Park-Ohio by 1.9% in the 2nd quarter. FMR LLC now owns 931,787 shares of the industrial products company’s stock valued at $14,779,000 after buying an additional 17,606 shares in the last quarter. BlackRock Inc. raised its stake in shares of Park-Ohio by 351.6% in the 2nd quarter. BlackRock Inc. now owns 488,811 shares of the industrial products company’s stock valued at $9,287,000 after buying an additional 380,560 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of Park-Ohio by 0.6% in the 1st quarter. Gabelli Funds LLC now owns 472,600 shares of the industrial products company’s stock valued at $5,709,000 after buying an additional 2,600 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Park-Ohio by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 439,594 shares of the industrial products company’s stock valued at $11,851,000 after buying an additional 4,378 shares in the last quarter. 51.38% of the stock is currently owned by institutional investors and hedge funds.

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.