Park-Ohio (NASDAQ:PKOH) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a report issued on Tuesday.

Park-Ohio Trading Down 2.2 %

Shares of PKOH stock opened at $23.79 on Tuesday. The stock has a market capitalization of $334.06 million, a price-to-earnings ratio of 19.03 and a beta of 1.20. The company’s fifty day simple moving average is $25.14 and its two-hundred day simple moving average is $28.33. Park-Ohio has a 1 year low of $22.74 and a 1 year high of $34.50. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.26.

Park-Ohio Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $0.125 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.50 annualized dividend and a yield of 2.10%. Park-Ohio’s dividend payout ratio is currently 40.00%.

Insider Buying and Selling at Park-Ohio

In other news, Director Patrick V. Auletta sold 9,800 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $31.43, for a total transaction of $308,014.00. Following the completion of the transaction, the director now directly owns 12,135 shares in the company, valued at $381,403.05. The trade was a 44.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert D. Vilsack sold 3,556 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $31.67, for a total value of $112,618.52. Following the completion of the sale, the insider now owns 187,764 shares in the company, valued at $5,946,485.88. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 33.04% of the company’s stock.

Hedge Funds Weigh In On Park-Ohio

A number of institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its holdings in shares of Park-Ohio by 79.4% during the third quarter. Assenagon Asset Management S.A. now owns 18,969 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 8,397 shares in the last quarter. EMC Capital Management lifted its position in Park-Ohio by 166.1% during the third 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. Empowered Funds LLC grew its stake in Park-Ohio by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 10,874 shares of the industrial products company’s stock worth $334,000 after buying an additional 536 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Park-Ohio in the 3rd quarter worth $1,758,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Park-Ohio by 9.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,391 shares of the industrial products company’s stock valued at $1,915,000 after buying an additional 5,465 shares in the last quarter. 51.38% of the stock is currently owned by institutional investors.

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.