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

StockNews.com lowered shares of Park-Ohio (NASDAQ:PKOHFree Report) from a buy rating to a hold rating in a report published on Tuesday morning.

Park-Ohio Trading Down 2.1 %

Park-Ohio stock opened at $32.19 on Tuesday. The stock has a 50-day moving average price of $29.69 and a 200 day moving average price of $27.90. Park-Ohio has a 52 week low of $22.32 and a 52 week high of $34.50. The stock has a market cap of $451.95 million, a PE ratio of 25.75 and a beta of 1.16. The company has a current ratio of 2.45, a quick ratio of 1.22 and a debt-to-equity ratio of 1.90.

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

Park-Ohio Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, November 15th. Park-Ohio’s dividend payout ratio is presently 40.00%.

Institutional Investors Weigh In On Park-Ohio

A number of hedge funds and other institutional investors have recently made changes to their positions in PKOH. Dimensional Fund Advisors LP boosted its stake in Park-Ohio by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 779,363 shares of the industrial products company’s stock worth $20,177,000 after buying an additional 12,267 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Park-Ohio by 0.7% in the first 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 during the last quarter. Acadian Asset Management LLC grew its holdings in Park-Ohio by 0.4% in the first quarter. Acadian Asset Management LLC now owns 246,968 shares of the industrial products company’s stock valued at $6,584,000 after purchasing an additional 1,074 shares during the period. Geode Capital Management LLC increased its position in Park-Ohio by 1.5% during the third quarter. Geode Capital Management LLC now owns 194,982 shares of the industrial products company’s stock worth $5,987,000 after purchasing an additional 2,928 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in Park-Ohio by 41.8% during the second quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock worth $4,096,000 after purchasing an additional 46,660 shares during the period. Hedge funds and other institutional investors own 51.38% of the company’s stock.

Park-Ohio Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Park-Ohio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park-Ohio and related companies with MarketBeat.com's FREE daily email newsletter.