Park-Ohio Holdings Corp. (NASDAQ:PKOH) announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.125 per share by the industrial products company on Wednesday, May 29th. This represents a $0.50 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, May 14th.
Park-Ohio has a dividend payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Park-Ohio to earn $4.92 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 10.2%.
PKOH traded down $1.43 during trading on Friday, hitting $31.22. The company’s stock had a trading volume of 18,700 shares, compared to its average volume of 25,509. The company has a market cap of $418.12 million, a price-to-earnings ratio of 7.29 and a beta of 2.38. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.26 and a current ratio of 2.27. Park-Ohio has a 12 month low of $28.01 and a 12 month high of $43.15.
Several research firms have recently weighed in on PKOH. BidaskClub raised Park-Ohio from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. ValuEngine upgraded Park-Ohio from a “strong sell” rating to a “sell” rating in a report on Monday, April 15th. TheStreet upgraded Park-Ohio from a “c+” rating to a “b-” rating in a report on Monday, May 6th. Finally, Zacks Investment Research upgraded Park-Ohio from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $39.00.
In other news, Director Ronna Romney sold 2,195 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.99, for a total transaction of $72,413.05. Following the transaction, the director now owns 16,900 shares in the company, valued at $557,531. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 31.20% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Park-Ohio stock. Geode Capital Management LLC increased its stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,102 shares of the industrial products company’s stock after buying an additional 8,717 shares during the quarter. Geode Capital Management LLC owned about 0.76% of Park-Ohio worth $2,949,000 at the end of the most recent reporting period. 53.62% of the stock is currently owned by hedge funds and other institutional investors.
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. 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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