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

StockNews.com lowered shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a research note released on Thursday morning.

Park-Ohio Trading Up 1.2 %

Shares of Park-Ohio stock opened at $21.53 on Thursday. The company’s fifty day moving average price is $24.37 and its two-hundred day moving average price is $27.80. 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 has a 52-week low of $21.00 and a 52-week high of $34.50. The firm has a market capitalization of $306.39 million, a PE ratio of 17.22 and a beta of 1.16.

Park-Ohio Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Park-Ohio’s payout ratio is 20.49%.

Insider Transactions at Park-Ohio

In other news, Director Edward F. Crawford sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $21.63, for a total value of $486,675.00. Following the sale, the director now owns 766,273 shares of the company’s stock, valued at approximately $16,574,484.99. This represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 33.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Park-Ohio

Hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. grew its holdings in Park-Ohio by 74.9% during the 4th quarter. Federated Hermes Inc. now owns 2,204 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 944 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Park-Ohio by 105.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 1,669 shares during the last quarter. SG Americas Securities LLC bought a new stake in Park-Ohio during the 4th quarter worth about $106,000. Wells Fargo & Company MN grew its holdings in Park-Ohio by 33.7% during the 4th quarter. Wells Fargo & Company MN now owns 5,272 shares of the industrial products company’s stock worth $138,000 after acquiring an additional 1,328 shares during the last quarter. Finally, L & S Advisors Inc bought a new stake in Park-Ohio during the 3rd quarter worth about $230,000. Institutional investors own 51.38% of the company’s stock.

About Park-Ohio

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.