Acadian Asset Management LLC Sells 26,868 Shares of Park-Ohio Holdings Corp. $PKOH

Key Points

• Acadian Asset Management LLC has reduced its holdings in Park-Ohio Holdings Corp. by 10.5%, selling 26,868 shares and now owning 1.61% of the company valued at approximately $4.93 million.
• Park-Ohio's recent quarterly earnings fell short of estimates, reporting $0.75 earnings per share compared to the expected $0.76 and revenue of $400.10 million against a forecast of $416.10 million.
• The company declared a quarterly dividend of $0.125 per share, yielding 2.3%, with a payout ratio of 24.63% as of its last issuance.

Acadian Asset Management LLC trimmed its position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH - Free Report) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,438 shares of the industrial products company's stock after selling 26,868 shares during the period. Acadian Asset Management LLC owned 1.61% of Park-Ohio worth $4,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in Park-Ohio by 14,282.4% during the first quarter. Russell Investments Group Ltd. now owns 2,445 shares of the industrial products company's stock worth $53,000 after buying an additional 2,428 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Park-Ohio during the first quarter worth $80,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Park-Ohio by 10.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,449 shares of the industrial products company's stock worth $118,000 after buying an additional 527 shares during the last quarter. Bank of America Corp DE increased its holdings in Park-Ohio by 47.4% during the fourth quarter. Bank of America Corp DE now owns 9,127 shares of the industrial products company's stock worth $240,000 after buying an additional 2,934 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Park-Ohio by 88.7% during the fourth quarter. Deutsche Bank AG now owns 9,261 shares of the industrial products company's stock worth $243,000 after buying an additional 4,354 shares during the last quarter. 51.38% of the stock is currently owned by institutional investors and hedge funds.

Park-Ohio Stock Up 5.3%

PKOH traded up $1.16 during trading on Thursday, reaching $22.91. 36,117 shares of the stock were exchanged, compared to its average volume of 25,785. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.33 and a current ratio of 2.60. The stock's 50 day moving average price is $18.97 and its two-hundred day moving average price is $19.37. Park-Ohio Holdings Corp. has a twelve month low of $15.52 and a twelve month high of $34.50. The stock has a market cap of $329.90 million, a P/E ratio of 11.29 and a beta of 1.32.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.01). Park-Ohio had a return on equity of 12.27% and a net margin of 1.73%.The company had revenue of $400.10 million for the quarter, compared to the consensus estimate of $416.10 million.

Park-Ohio Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 1st. Park-Ohio's payout ratio is 24.63%.

Insider Buying and Selling

In related news, CEO Matthew V. Crawford acquired 4,167 shares of Park-Ohio stock in a transaction on Thursday, August 14th. The stock was purchased at an average cost of $20.04 per share, with a total value of $83,506.68. Following the completion of the transaction, the chief executive officer directly owned 911,237 shares in the company, valued at $18,261,189.48. This trade represents a 0.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 31.51% of the stock is currently owned by company insiders.

Park-Ohio Company 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.