Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,391 shares of the industrial products company’s stock after purchasing an additional 5,465 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.47% of Park-Ohio worth $1,915,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 worth $41,000 after acquiring an additional 1,510 shares during the period. EMC Capital Management grew its stake 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 valued at $217,000 after purchasing an additional 4,416 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Park-Ohio by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 449 shares during the last quarter. Aristeia Capital L.L.C. lifted its stake in shares of Park-Ohio by 11.3% in the 2nd quarter. Aristeia Capital L.L.C. now owns 11,515 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 1,170 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Park-Ohio by 27.7% in the 2nd quarter. Rhumbline Advisers now owns 12,290 shares of the industrial products company’s stock worth $318,000 after purchasing an additional 2,665 shares during the period. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Park-Ohio from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th.

Park-Ohio Price Performance

Shares of Park-Ohio stock opened at $33.13 on Tuesday. The stock has a market cap of $465.21 million, a P/E ratio of 26.50 and a beta of 1.16. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.26 and a current ratio of 2.45. The stock’s fifty day moving average is $30.20 and its 200 day moving average is $28.21. Park-Ohio Holdings Corp. has a one year low of $22.52 and a one 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, topping the consensus estimate of $0.89 by $0.18. The firm had revenue of $417.60 million for the quarter. Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%.

Park-Ohio Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.51%. Park-Ohio’s payout ratio is currently 40.00%.

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.