Geode Capital Management LLC Purchases 2,928 Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Geode Capital Management LLC lifted its position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,982 shares of the industrial products company’s stock after acquiring an additional 2,928 shares during the period. Geode Capital Management LLC’s holdings in Park-Ohio were worth $5,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Park-Ohio by 1,986.8% in the 2nd 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 in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Park-Ohio by 105.2% during the third quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock valued at $100,000 after buying an additional 1,669 shares during the last quarter. EMC Capital Management increased its holdings in Park-Ohio by 166.1% in the 3rd quarter. EMC Capital Management now owns 7,074 shares of the industrial products company’s stock worth $217,000 after buying an additional 4,416 shares in the last quarter. L & S Advisors Inc purchased a new position in Park-Ohio in the 3rd quarter worth about $230,000. Finally, Jane Street Group LLC bought a new position in Park-Ohio during the 3rd quarter valued at about $242,000. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Park-Ohio

In other news, insider Robert D. Vilsack sold 3,556 shares of Park-Ohio stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $31.67, for a total transaction of $112,618.52. Following the transaction, the insider now directly owns 187,764 shares of the company’s stock, valued at $5,946,485.88. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick V. Auletta sold 9,800 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $31.43, for a total transaction of $308,014.00. Following the completion of the sale, the director now directly owns 12,135 shares of the company’s stock, valued at $381,403.05. This represents a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.04% of the stock is currently owned by company insiders.

Park-Ohio Price Performance

Shares of PKOH opened at $25.53 on Friday. The firm has a fifty day simple moving average of $29.96 and a two-hundred day simple moving average of $28.86. The firm has a market cap of $358.49 million, a PE ratio of 20.42 and a beta of 1.21. The company has a current ratio of 2.45, a quick ratio of 1.26 and a debt-to-equity ratio of 1.90. Park-Ohio Holdings Corp. has a 1-year low of $22.74 and a 1-year high of $34.50.

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

Park-Ohio Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, November 15th. Park-Ohio’s payout ratio is 40.00%.

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.