Park-Ohio (NASDAQ:PKOH) Raised to “Buy” 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 Up 2.6 %

Park-Ohio stock opened at $29.60 on Thursday. The firm has a market cap of $386.90 million, a price-to-earnings ratio of 32.53 and a beta of 1.15. The company has a current ratio of 2.42, a quick ratio of 1.22 and a debt-to-equity ratio of 2.22. Park-Ohio has a 12 month low of $21.93 and a 12 month high of $31.95. The stock has a fifty day simple moving average of $28.98 and a two-hundred day simple moving average of $27.03.

Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.08. The business had revenue of $432.60 million during the quarter. Park-Ohio had a return on equity of 14.72% and a net margin of 1.09%. During the same period last year, the firm posted $0.83 EPS.

Park-Ohio Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.125 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 1.69%. Park-Ohio’s dividend payout ratio is presently 54.95%.

Institutional Trading of Park-Ohio

Several large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted 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 worth $41,000 after purchasing an additional 1,510 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Park-Ohio by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 449 shares during the period. Empowered Funds LLC boosted its holdings in shares of Park-Ohio by 7.8% in the first quarter. Empowered Funds LLC now owns 9,618 shares of the industrial products company’s stock worth $257,000 after buying an additional 700 shares during the last quarter. BNP Paribas Financial Markets grew its position in Park-Ohio by 23.1% during the first 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 period. Finally, Aristeia Capital L.L.C. increased its holdings in Park-Ohio by 11.3% during the second quarter. Aristeia Capital L.L.C. now owns 11,515 shares of the industrial products company’s stock valued at $298,000 after buying an additional 1,170 shares during the last quarter. 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.