Park-Ohio Holdings Corp. (NASDAQ:PKOH – Get Free Report) announced a quarterly dividend on Friday, July 17th. Investors of record on Friday, July 31st will be paid a dividend of 0.125 per share by the industrial products company on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, July 31st.
Park-Ohio has raised its dividend payment by an average of 0.1%annually over the last three years. Park-Ohio has a payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Park-Ohio to earn $3.57 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 14.0%.
Park-Ohio Stock Performance
NASDAQ PKOH opened at $37.76 on Friday. The company has a market capitalization of $543.74 million, a price-to-earnings ratio of 22.48, a PEG ratio of 1.02 and a beta of 1.18. The company has a quick ratio of 1.23, a current ratio of 2.40 and a debt-to-equity ratio of 1.70. Park-Ohio has a twelve month low of $15.52 and a twelve month high of $39.33. The stock has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $28.28.
Insider Buying and Selling at Park-Ohio
In other news, insider Robert D. Vilsack sold 2,290 shares of Park-Ohio stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $38.42, for a total value of $87,981.80. Following the completion of the sale, the insider owned 184,249 shares in the company, valued at $7,078,846.58. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 31.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Park-Ohio
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its holdings in shares of Park-Ohio by 14.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,272,221 shares of the industrial products company’s stock valued at $26,640,000 after purchasing an additional 156,890 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Park-Ohio by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 837,015 shares of the industrial products company’s stock valued at $20,121,000 after buying an additional 6,547 shares during the period. Vanguard Group Inc. increased its position in Park-Ohio by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 528,699 shares of the industrial products company’s stock valued at $11,230,000 after buying an additional 3,967 shares in the last quarter. Gabelli Funds LLC increased its position in Park-Ohio by 2.1% in the 4th quarter. Gabelli Funds LLC now owns 512,601 shares of the industrial products company’s stock valued at $10,734,000 after buying an additional 10,401 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in Park-Ohio by 5.2% during the 4th quarter. First Eagle Investment Management LLC now owns 435,605 shares of the industrial products company’s stock worth $9,122,000 after buying an additional 21,535 shares during the period. 51.38% of the stock is owned by institutional investors.
Park-Ohio Company Profile
Park-Ohio Holdings Corp is a diversified industrial company that supplies engineered products and distribution services to a broad array of end markets. Through its two primary operating segments—Engineered Solutions and Supply Chain Solutions—the company delivers metal components, assemblies and value-added distribution tailored to energy, transportation, industrial and commercial applications.
The Engineered Solutions segment provides design, machining, fabrication and assembly of custom metal parts, including heat exchangers, welded assemblies, tubing products and precision-machined components.
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