Park-Ohio Holdings Corp. (NASDAQ:PKOH) Short Interest Update

Park-Ohio Holdings Corp. (NASDAQ:PKOH) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 102,200 shares, an increase of 12.3% from the January 15th total of 91,000 shares. Based on an average trading volume of 45,400 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.2% of the company’s shares are sold short.

In other Park-Ohio news, Director Patrick V. Auletta sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $33.46, for a total transaction of $33,460.00. Following the sale, the director now directly owns 18,425 shares in the company, valued at $616,500.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in shares of Park-Ohio by 45.5% in the 2nd quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 364 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Park-Ohio by 23.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,111 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 400 shares during the last quarter. Citigroup Inc. lifted its stake in Park-Ohio by 29.2% during the fourth quarter. Citigroup Inc. now owns 4,093 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 924 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Park-Ohio by 69.8% in the fourth quarter. Acadian Asset Management LLC now owns 5,868 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 2,413 shares in the last quarter. Finally, Heritage Investors Management Corp acquired a new position in Park-Ohio in the fourth quarter valued at approximately $211,000. 55.01% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have commented on PKOH. BidaskClub cut shares of Park-Ohio from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Zacks Investment Research upgraded Park-Ohio from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 8th. TheStreet upgraded Park-Ohio from a “c+” rating to a “b-” rating in a report on Thursday, January 2nd. Finally, ValuEngine lowered Park-Ohio from a “sell” rating to a “strong sell” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Park-Ohio currently has a consensus rating of “Hold” and a consensus price target of $30.50.

Shares of Park-Ohio stock traded down $0.66 on Friday, reaching $29.64. 15,000 shares of the company were exchanged, compared to its average volume of 33,039. Park-Ohio has a 1-year low of $25.74 and a 1-year high of $38.77. The company has a market cap of $378.54 million, a P/E ratio of 8.03 and a beta of 2.31. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.34 and a quick ratio of 1.32. The stock’s 50 day moving average price is $32.66 and its 200-day moving average price is $30.99.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.50 annualized dividend and a yield of 1.69%. Park-Ohio’s dividend payout ratio (DPR) is 11.68%.

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. 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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