A number of other equities research analysts also recently issued reports on PKOH. Zacks Investment Research downgraded Park-Ohio from a buy rating to a hold rating in a research note on Saturday, August 17th. TheStreet downgraded Park-Ohio from a b- rating to a c+ rating in a research note on Monday, August 5th. B. Riley cut their price target on Park-Ohio from $40.00 to $30.00 and set a neutral rating for the company in a research note on Monday, August 12th. Finally, ValuEngine downgraded Park-Ohio from a sell rating to a strong sell rating in a research note on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Park-Ohio presently has a consensus rating of Hold and a consensus price target of $30.50.
Shares of Park-Ohio stock traded up $0.59 during trading hours on Thursday, reaching $32.77. 2,697 shares of the stock traded hands, compared to its average volume of 33,043. The company has a 50 day moving average price of $28.45 and a 200 day moving average price of $32.02. The firm has a market capitalization of $383.89 million, a price-to-earnings ratio of 7.64 and a beta of 2.36. Park-Ohio has a one year low of $25.74 and a one year high of $40.10. The company has a quick ratio of 1.32, a current ratio of 2.37 and a debt-to-equity ratio of 1.89.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.125 per share. The ex-dividend date was Monday, August 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.53%. Park-Ohio’s dividend payout ratio (DPR) is presently 11.68%.
In related news, Director Ronna Romney sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the transaction, the director now directly owns 18,909 shares in the company, valued at approximately $494,281.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James W. Wert acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $27.62 per share, with a total value of $69,050.00. Following the completion of the purchase, the director now owns 80,320 shares in the company, valued at approximately $2,218,438.40. The disclosure for this purchase can be found here. Insiders own 31.20% of the company’s stock.
Several large investors have recently made changes to their positions in PKOH. BlackRock Inc. grew its stake in shares of Park-Ohio by 5.6% during the 2nd quarter. BlackRock Inc. now owns 625,903 shares of the industrial products company’s stock valued at $20,397,000 after acquiring an additional 33,110 shares during the period. Morgan Stanley boosted its stake in Park-Ohio by 153.7% in the 2nd quarter. Morgan Stanley now owns 36,590 shares of the industrial products company’s stock worth $1,192,000 after purchasing an additional 22,167 shares during the period. Dimensional Fund Advisors LP boosted its stake in Park-Ohio by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 896,556 shares of the industrial products company’s stock worth $27,515,000 after purchasing an additional 18,974 shares during the period. Bank of America Corp DE boosted its stake in Park-Ohio by 396.4% in the 4th quarter. Bank of America Corp DE now owns 20,740 shares of the industrial products company’s stock worth $637,000 after purchasing an additional 16,562 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in Park-Ohio in the 2nd quarter worth approximately $478,000. Institutional investors own 54.67% of the company’s stock.
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. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.
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