Park-Ohio (NASDAQ:PKOH) Upgraded at StockNews.com

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

Park-Ohio Stock Performance

Park-Ohio stock opened at $32.17 on Thursday. The stock has a market cap of $451.73 million, a PE ratio of 25.74 and a beta of 1.16. The company has a quick ratio of 1.26, a current ratio of 2.45 and a debt-to-equity ratio of 1.90. Park-Ohio has a 12-month low of $22.52 and a 12-month high of $34.50. The business’s 50-day moving average price is $30.56 and its two-hundred day moving average price is $28.41.

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

Park-Ohio Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.125 per share. The ex-dividend date was Friday, November 15th. This represents a $0.50 dividend on an annualized basis and a yield of 1.55%. Park-Ohio’s dividend payout ratio is currently 40.00%.

Hedge Funds Weigh In On Park-Ohio

Several large investors have recently bought and sold shares of PKOH. Allspring Global Investments Holdings LLC grew its holdings in shares of Park-Ohio by 1,986.8% during the second 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 last quarter. BNP Paribas Financial Markets boosted its position in Park-Ohio by 105.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock worth $100,000 after buying an additional 1,669 shares during the period. EMC Capital Management grew its holdings in 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 during the last quarter. L & S Advisors Inc acquired a new position in Park-Ohio in the 3rd quarter valued at approximately $230,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Park-Ohio by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 449 shares during the last quarter. 51.38% of the stock is currently owned by institutional investors.

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.