Park-Ohio (NASDAQ:PKOH) Upgraded to “Buy” at StockNews.com

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

Park-Ohio Stock Down 1.9 %

PKOH opened at $32.04 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.26. The stock has a market capitalization of $449.84 million, a price-to-earnings ratio of 25.63 and a beta of 1.16. The business has a 50-day moving average of $30.48 and a two-hundred day moving average of $28.35. Park-Ohio has a 12 month low of $22.52 and a 12 month high of $34.50.

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

Park-Ohio Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, November 15th. Park-Ohio’s payout ratio is currently 40.00%.

Institutional Trading of Park-Ohio

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Park-Ohio by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 779,363 shares of the industrial products company’s stock worth $20,177,000 after purchasing an additional 12,267 shares during the period. Vanguard Group Inc. lifted its position in Park-Ohio by 0.7% during the 1st 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 in the last quarter. Geode Capital Management LLC lifted its position in Park-Ohio by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 194,982 shares of the industrial products company’s stock worth $5,987,000 after acquiring an additional 2,928 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Park-Ohio by 41.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock worth $4,096,000 after acquiring an additional 46,660 shares in the last quarter. Finally, State Street Corp lifted its position in Park-Ohio by 0.8% during the 3rd quarter. State Street Corp now owns 134,356 shares of the industrial products company’s stock worth $4,125,000 after acquiring an additional 1,034 shares in the last quarter. Hedge funds and other institutional investors 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.