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 Wednesday.

Park-Ohio Stock Performance

Shares of PKOH opened at $33.04 on Wednesday. The company’s 50 day simple moving average is $30.20 and its 200-day simple moving average is $28.18. Park-Ohio has a 12-month low of $22.52 and a 12-month high of $34.50. The firm has a market cap of $463.88 million, a PE ratio of 26.43 and a beta of 1.16. 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 (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. 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 business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.50 annualized dividend and a dividend yield of 1.51%. Park-Ohio’s dividend payout ratio (DPR) is currently 40.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in Park-Ohio by 23.1% in the 1st quarter. BNP Paribas Financial Markets now owns 10,831 shares of the industrial products company’s stock valued at $289,000 after buying an additional 2,036 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Park-Ohio by 0.7% during the first quarter. Vanguard Group Inc. now owns 442,830 shares of the industrial products company’s stock worth $11,815,000 after acquiring an additional 3,236 shares during the period. Price T Rowe Associates Inc. MD increased 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 worth $233,000 after acquiring an additional 449 shares during the period. Bank of New York Mellon Corp raised its holdings in Park-Ohio by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 95,170 shares of the industrial products company’s stock worth $2,464,000 after purchasing an additional 496 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Park-Ohio by 1,986.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 1,510 shares during the period. Institutional investors and hedge funds own 51.38% of the company’s stock.

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.