Algert Global LLC boosted its stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 15.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,229 shares of the industrial products company’s stock after purchasing an additional 9,318 shares during the period. Algert Global LLC’s holdings in Park-Ohio were worth $2,732,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PKOH. First Trust Advisors LP raised its holdings in Park-Ohio by 17.6% during the second quarter. First Trust Advisors LP now owns 9,907 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 1,482 shares during the period. Gabelli Funds LLC raised its holdings in Park-Ohio by 0.4% during the third quarter. Gabelli Funds LLC now owns 414,500 shares of the industrial products company’s stock valued at $15,896,000 after acquiring an additional 1,500 shares during the period. Strs Ohio raised its holdings in Park-Ohio by 9.8% during the second quarter. Strs Ohio now owns 18,000 shares of the industrial products company’s stock valued at $671,000 after acquiring an additional 1,600 shares during the period. JPMorgan Chase & Co. raised its holdings in Park-Ohio by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 32,054 shares of the industrial products company’s stock valued at $1,229,000 after acquiring an additional 2,384 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Park-Ohio by 279.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,426 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 3,259 shares during the period. Institutional investors own 54.06% of the company’s stock.
Shares of PKOH stock opened at $34.10 on Friday. Park-Ohio Holdings Corp. has a 12-month low of $32.32 and a 12-month high of $47.90. The company has a current ratio of 2.43, a quick ratio of 1.42 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $453.83 million, a PE ratio of 10.56 and a beta of 2.78.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th were issued a $0.125 dividend. The ex-dividend date was Tuesday, November 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.47%. Park-Ohio’s dividend payout ratio (DPR) is 15.48%.
A number of equities research analysts have commented on PKOH shares. Zacks Investment Research raised Park-Ohio from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, November 9th. ValuEngine raised Park-Ohio from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. B. Riley reissued a “neutral” rating on shares of Park-Ohio in a report on Wednesday, November 7th. Finally, BidaskClub cut Park-Ohio from a “sell” rating to a “strong sell” rating in a report on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.00.
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Park-Ohio Holdings Corp., through its subsidiaries, provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Asia, Europe, Canada, Mexico, 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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