Park-Ohio Holdings Corp. (NASDAQ:PKOH) Shares Sold by Private Management Group Inc.

Private Management Group Inc. reduced its position in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 981,414 shares of the industrial products company’s stock after selling 36,909 shares during the quarter. Private Management Group Inc. owned about 7.50% of Park-Ohio worth $26,459,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in Park-Ohio during the 3rd quarter worth $87,000. Ritholtz Wealth Management purchased a new stake in shares of Park-Ohio in the fourth quarter valued at approximately $227,000. Los Angeles Capital Management LLC purchased a new position in shares of Park-Ohio in the 3rd quarter valued at about $1,197,000. Acadian Asset Management LLC increased its holdings in Park-Ohio by 70.6% in the third quarter. Acadian Asset Management LLC now owns 219,837 shares of the industrial products company’s stock valued at $4,373,000 after buying an additional 90,998 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Park-Ohio by 3.7% during the third quarter. First Eagle Investment Management LLC now owns 110,478 shares of the industrial products company’s stock worth $2,200,000 after purchasing an additional 3,919 shares during the last quarter. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th.

Park-Ohio Stock Up 1.5 %

Shares of PKOH traded up $0.36 during mid-day trading on Tuesday, reaching $23.91. 6,420 shares of the stock traded hands, compared to its average volume of 23,972. Park-Ohio Holdings Corp. has a 12-month low of $12.07 and a 12-month high of $28.79. The firm has a market cap of $312.50 million, a price-to-earnings ratio of 37.95 and a beta of 1.23. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 2.18. The stock has a fifty day simple moving average of $25.35 and a 200 day simple moving average of $24.74.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. The company had revenue of $389.30 million during the quarter, compared to the consensus estimate of $386.45 million. During the same period last year, the business posted ($0.09) EPS. Sell-side analysts expect that Park-Ohio Holdings Corp. will post 3.36 EPS for the current fiscal year.

Park-Ohio Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.50 annualized dividend and a dividend yield of 2.09%. Park-Ohio’s dividend payout ratio (DPR) is presently 79.37%.

Insider Activity

In related news, Director James W. Wert sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $25.98, for a total value of $38,970.00. Following the completion of the sale, the director now owns 82,690 shares of the company’s stock, valued at approximately $2,148,286.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director James W. Wert sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.02, for a total value of $27,020.00. Following the completion of the transaction, the director now directly owns 84,190 shares of the company’s stock, valued at $2,274,813.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James W. Wert sold 1,500 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total value of $38,970.00. Following the completion of the sale, the director now directly owns 82,690 shares in the company, valued at approximately $2,148,286.20. The disclosure for this sale can be found here. Insiders sold 3,500 shares of company stock worth $91,990 over the last quarter. Corporate insiders own 33.26% of the company’s stock.

Park-Ohio 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.