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

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

Park-Ohio Stock Performance

NASDAQ:PKOH opened at $32.19 on Tuesday. The firm has a market cap of $451.95 million, a price-to-earnings ratio of 25.75 and a beta of 1.16. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.22. Park-Ohio has a 1-year low of $22.32 and a 1-year high of $34.50. The firm’s fifty day moving average price is $29.69 and its 200 day moving average price is $27.90.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.18. The business 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 Announces Dividend

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

Hedge Funds Weigh In On Park-Ohio

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in Park-Ohio by 1,986.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,510 shares during the period. BNP Paribas Financial Markets grew its holdings 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 acquiring an additional 1,669 shares during the period. EMC Capital Management increased its stake in Park-Ohio by 166.1% in the 3rd quarter. EMC Capital Management now owns 7,074 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 4,416 shares in the last quarter. L & S Advisors Inc acquired a new position in Park-Ohio during the third quarter worth $230,000. Finally, Price T Rowe Associates Inc. MD boosted 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 purchasing an additional 449 shares in the last quarter. Hedge funds and other 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.