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

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

Park-Ohio Trading Up 2.4 %

PKOH opened at $33.04 on Wednesday. Park-Ohio has a 52 week low of $22.52 and a 52 week 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 business has a fifty day simple moving average of $30.20 and a 200-day simple moving average of $28.18. The firm has a market cap of $463.88 million, a P/E ratio of 26.43 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 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 declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.125 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.50 annualized dividend and a yield of 1.51%. Park-Ohio’s dividend payout ratio is presently 40.00%.

Institutional Trading of Park-Ohio

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in Park-Ohio by 1,986.8% during 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 during the period. BNP Paribas Financial Markets increased 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 during the last quarter. EMC Capital Management raised its position in shares of Park-Ohio by 166.1% during the 3rd quarter. EMC Capital Management now owns 7,074 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 4,416 shares in the last quarter. L & S Advisors Inc purchased a new stake in Park-Ohio during the third quarter worth approximately $230,000. Finally, Jane Street Group LLC acquired a new position in Park-Ohio in the third quarter valued at approximately $242,000. Hedge funds and other institutional investors own 51.38% of the company’s stock.

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.