JPMorgan Chase & Co. Purchases 8,841 Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH)

JPMorgan Chase & Co. boosted its stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 51.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,026 shares of the industrial products company’s stock after purchasing an additional 8,841 shares during the quarter. JPMorgan Chase & Co.’s holdings in Park-Ohio were worth $799,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets increased 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 purchasing an additional 1,669 shares during the period. EMC Capital Management raised its position 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 valued at $217,000 after purchasing an additional 4,416 shares during the last quarter. L & S Advisors Inc acquired a new position in Park-Ohio during the 3rd quarter worth about $230,000. Jane Street Group LLC acquired a new stake in shares of Park-Ohio in the third quarter valued at approximately $242,000. Finally, Empowered Funds LLC increased its position in Park-Ohio by 5.2% in the third quarter. Empowered Funds LLC now owns 10,874 shares of the industrial products company’s stock worth $334,000 after purchasing an additional 536 shares during the period. Institutional investors own 51.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Patrick V. Auletta sold 9,800 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $31.43, for a total value of $308,014.00. Following the transaction, the director now owns 12,135 shares in the company, valued at approximately $381,403.05. This represents a 44.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert D. Vilsack sold 3,556 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $31.67, for a total transaction of $112,618.52. Following the sale, the insider now owns 187,764 shares of the company’s stock, valued at $5,946,485.88. This trade represents a 1.86 % 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 corporate insiders.

Park-Ohio Price Performance

PKOH opened at $24.70 on Monday. The company has a fifty day simple moving average of $28.06 and a 200 day simple moving average of $28.89. 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 stock has a market cap of $346.79 million, a P/E ratio of 19.76 and a beta of 1.21. Park-Ohio Holdings Corp. has a 12 month low of $22.74 and a 12 month 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 the consensus estimate of $0.89 by $0.18. The business had revenue of $417.60 million for the quarter. Park-Ohio had a net margin of 1.01% and a return on equity of 14.64%.

Park-Ohio Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.02%. Park-Ohio’s dividend payout ratio is currently 40.00%.

Analyst Ratings Changes

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

Park-Ohio 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.