American Century Companies Inc. Boosts Stake in Park-Ohio Holdings Corp. $PKOH

Key Points

• American Century Companies Inc. increased its stake in Park-Ohio Holdings Corp. by 10.2%, purchasing an additional 20,733 shares, bringing its total ownership to 223,044 shares worth approximately $4.8 million.
• Park-Ohio reported an earnings miss in its recent quarter, with EPS of $0.75 compared to the consensus estimate of $0.76, while revenue was also below expectations at $400.1 million.
• The company declared a quarterly dividend of $0.125, representing an annualized yield of 2.5% and has a dividend payout ratio of 24.63%.

American Century Companies Inc. boosted its position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,044 shares of the industrial products company's stock after buying an additional 20,733 shares during the period. American Century Companies Inc. owned 1.57% of Park-Ohio worth $4,818,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of Park-Ohio by 14,282.4% in the first quarter. Russell Investments Group Ltd. now owns 2,445 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 2,428 shares during the period. Nuveen LLC acquired a new position in shares of Park-Ohio in the first quarter valued at approximately $361,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Park-Ohio by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,831 shares of the industrial products company's stock valued at $580,000 after purchasing an additional 1,385 shares during the period. Inspire Advisors LLC acquired a new position in shares of Park-Ohio in the first quarter valued at approximately $311,000. Finally, Private Management Group Inc. increased its holdings in shares of Park-Ohio by 4.2% in the first quarter. Private Management Group Inc. now owns 1,004,311 shares of the industrial products company's stock valued at $21,693,000 after purchasing an additional 40,594 shares during the period. Institutional investors and hedge funds own 51.38% of the company's stock.

Park-Ohio Stock Performance

Shares of NASDAQ:PKOH traded up $0.79 during trading on Thursday, reaching $20.44. The company had a trading volume of 15,951 shares, compared to its average volume of 30,910. The firm has a market capitalization of $294.34 million, a price-to-earnings ratio of 10.07 and a beta of 1.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.60 and a quick ratio of 1.33. The stock's fifty day moving average price is $18.34 and its 200 day moving average price is $19.54. Park-Ohio Holdings Corp. has a fifty-two week low of $15.52 and a fifty-two week high of $34.50.

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

Park-Ohio Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.125 dividend. The ex-dividend date was Friday, August 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. Park-Ohio's payout ratio is 24.63%.

Insider Buying and Selling at Park-Ohio

In other Park-Ohio news, CEO Matthew V. Crawford purchased 4,167 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $20.04 per share, for a total transaction of $83,506.68. Following the completion of the purchase, the chief executive officer directly owned 911,237 shares in the company, valued at $18,261,189.48. This represents a 0.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.51% of the stock is currently owned by company insiders.

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.