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

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

Park-Ohio Stock Performance

NASDAQ:PKOH opened at $32.04 on Thursday. Park-Ohio has a twelve month low of $22.52 and a twelve month high of $34.50. The company has a market capitalization of $449.84 million, a P/E ratio of 25.63 and a beta of 1.16. The company has a current ratio of 2.45, a quick ratio of 1.26 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average price of $30.48 and a two-hundred day moving average price of $28.35.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.18. The firm had revenue of $417.60 million during the quarter. Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%.

Park-Ohio Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.125 dividend. 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 payout ratio is 40.00%.

Institutional Investors Weigh In On Park-Ohio

Several hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC purchased a new position in shares of Park-Ohio during the third quarter valued at approximately $1,758,000. Bank of New York Mellon Corp boosted its holdings in shares of Park-Ohio by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 95,170 shares of the industrial products company’s stock worth $2,464,000 after purchasing an additional 496 shares during the last quarter. Empowered Funds LLC grew its position in shares of Park-Ohio by 5.2% in the third quarter. Empowered Funds LLC now owns 10,874 shares of the industrial products company’s stock valued at $334,000 after purchasing an additional 536 shares during the period. First Eagle Investment Management LLC increased its stake in Park-Ohio by 41.8% in the second quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock valued at $4,096,000 after purchasing an additional 46,660 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Park-Ohio by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock worth $233,000 after buying an additional 449 shares during the period. 51.38% of the stock is owned by institutional investors and hedge funds.

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.