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

StockNews.com upgraded shares of Park-Ohio (NASDAQ:PKOH - Free Report) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Park-Ohio Stock Up 1.5 %

Shares of PKOH stock traded up $0.35 during trading hours on Wednesday, reaching $23.15. 13,563 shares of the company's stock were exchanged, compared to its average volume of 21,580. 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 company has a market cap of $325.07 million, a price-to-earnings ratio of 18.52 and a beta of 1.20. Park-Ohio has a fifty-two week low of $22.43 and a fifty-two week high of $34.50. The stock's 50 day moving average is $24.86 and its 200-day moving average is $28.16.

Park-Ohio Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, February 7th. Park-Ohio's dividend payout ratio (DPR) is presently 40.00%.

Insider Buying and Selling

In other news, insider Robert D. Vilsack sold 3,556 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $31.67, for a total value of $112,618.52. Following the sale, the insider now directly owns 187,764 shares of the company's stock, valued at $5,946,485.88. This represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 33.04% of the stock is currently owned by company insiders.

Institutional Trading of Park-Ohio

A number of hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of Park-Ohio by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 10,874 shares of the industrial products company's stock valued at $334,000 after acquiring an additional 536 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Park-Ohio in the 3rd quarter worth about $1,758,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Park-Ohio by 9.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,391 shares of the industrial products company's stock worth $1,915,000 after buying an additional 5,465 shares in the last quarter. L & S Advisors Inc acquired a new position in shares of Park-Ohio during the third quarter valued at approximately $230,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Park-Ohio by 105.2% in the third quarter. BNP Paribas Financial Markets now owns 3,256 shares of the industrial products company's stock valued at $100,000 after acquiring an additional 1,669 shares in the last quarter. 51.38% of the stock is owned by hedge funds and other institutional investors.

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.