Park-Ohio Holdings Corp. (NASDAQ:PKOH) Plans Quarterly Dividend of $0.13

Park-Ohio Holdings Corp. (NASDAQ:PKOH) declared a quarterly dividend on Friday, April 19th, Zacks reports. Shareholders of record on Friday, May 3rd will be given a dividend of 0.125 per share by the industrial products company on Friday, May 17th. This represents a $0.50 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, May 2nd.

Park-Ohio has raised its dividend by an average of 26.0% per year over the last three years. Park-Ohio has a payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Park-Ohio to earn $4.00 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 12.5%.

Park-Ohio Trading Up 3.6 %

NASDAQ:PKOH opened at $23.90 on Friday. Park-Ohio has a twelve month low of $12.07 and a twelve month high of $28.79. 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 business has a 50 day moving average price of $25.36 and a two-hundred day moving average price of $24.62. The company has a market cap of $312.37 million, a P/E ratio of 37.94 and a beta of 1.23.

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

Insider Transactions at Park-Ohio

In other news, Director James W. Wert sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.02, for a total transaction of $27,020.00. Following the sale, the director now owns 84,190 shares in the company, valued at approximately $2,274,813.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director James W. Wert sold 1,000 shares of the 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 sale, the director now owns 84,190 shares in the company, valued at approximately $2,274,813.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James W. Wert sold 1,500 shares of the 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 owns 82,690 shares in the company, valued at approximately $2,148,286.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,500 shares of company stock worth $91,990 in the last 90 days. Corporate insiders own 35.60% of the company’s stock.

Institutional Investors Weigh In On Park-Ohio

A number of large investors have recently added to or reduced their stakes in PKOH. Bank of America Corp DE raised its stake in Park-Ohio by 501.8% in the 1st quarter. Bank of America Corp DE now owns 2,335 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,947 shares during the period. Barclays PLC bought a new position in Park-Ohio during the 2nd quarter worth $32,000. Tower Research Capital LLC TRC increased its position in Park-Ohio by 76.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,003 shares of the industrial products company’s stock worth $38,000 after buying an additional 865 shares during the period. California State Teachers Retirement System bought a new position in Park-Ohio during the 2nd quarter worth $53,000. Finally, BNP Paribas Arbitrage SNC increased its position in Park-Ohio by 26,490.9% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 2,925 shares of the industrial products company’s stock worth $56,000 after buying an additional 2,914 shares during the period. Institutional investors own 51.38% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Park-Ohio from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

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.