StockNews.com Downgrades Park-Ohio (NASDAQ:PKOH) to Buy

StockNews.com lowered shares of Park-Ohio (NASDAQ:PKOH) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Park-Ohio Stock Performance

Shares of Park-Ohio stock opened at $24.09 on Friday. Park-Ohio has a one year low of $12.25 and a one year high of $28.79. The company has a market cap of $314.86 million, a PE ratio of 38.24 and a beta of 1.23. 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 business has a 50-day simple moving average of $25.28 and a 200-day simple moving average of $24.79.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings data on Wednesday, March 6th. The industrial products company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. The company had revenue of $389.30 million for the quarter, compared to analyst estimates of $386.45 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. On average, equities research analysts forecast that Park-Ohio will post 3.36 EPS for the current fiscal year.

Park-Ohio Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 2nd. Park-Ohio’s dividend payout ratio (DPR) is 79.37%.

Insider Activity at Park-Ohio

In related news, Director James W. Wert sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the transaction, the director now directly owns 89,190 shares of the company’s stock, valued at $2,318,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director James W. Wert sold 1,500 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 of the company’s stock, valued at $2,148,286.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James W. Wert sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the director now directly 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 three months. 33.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Park-Ohio

Several large investors have recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Park-Ohio by 32.6% in the third quarter. Barclays PLC now owns 2,225 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 547 shares during the period. Schneider Downs Wealth Management Advisors LP raised its stake in shares of Park-Ohio by 4.4% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 19,155 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 810 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Park-Ohio by 146.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,064 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 1,228 shares during the last quarter. Gladius Capital Management LP purchased a new stake in shares of Park-Ohio during the third quarter worth approximately $37,000. Finally, AJOVista LLC purchased a new stake in shares of Park-Ohio during the fourth quarter worth approximately $65,000. 51.38% of the stock is 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.