Park-Ohio (NASDAQ:PKOH) Upgraded at StockNews.com

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

Park-Ohio Stock Performance

Park-Ohio stock opened at $32.00 on Wednesday. Park-Ohio has a 52-week low of $22.32 and a 52-week high of $34.50. 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 fifty day moving average price of $29.95 and a two-hundred day moving average price of $28.07. The firm has a market capitalization of $449.28 million, a P/E ratio of 25.60 and a beta of 1.16.

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

Park-Ohio Dividend Announcement

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

Institutional Investors Weigh In On Park-Ohio

A number of institutional investors and hedge funds have recently made changes to their positions in PKOH. Allspring Global Investments Holdings LLC lifted its position in Park-Ohio by 1,986.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 1,510 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Park-Ohio by 105.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 1,669 shares during the last quarter. EMC Capital Management boosted its position in shares of Park-Ohio by 166.1% in the 3rd quarter. EMC Capital Management now owns 7,074 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 4,416 shares during the last quarter. L & S Advisors Inc acquired a new stake in shares of Park-Ohio during the third quarter worth $230,000. Finally, Jane Street Group LLC bought a new stake in Park-Ohio in the third quarter valued at about $242,000. 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.