Citadel Advisors LLC Raises Holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Citadel Advisors LLC lifted its position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH - Free Report) by 104.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,243 shares of the industrial products company's stock after buying an additional 22,619 shares during the quarter. Citadel Advisors LLC owned approximately 0.32% of Park-Ohio worth $1,162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers boosted its position in Park-Ohio by 5.2% during the fourth quarter. Rhumbline Advisers now owns 13,463 shares of the industrial products company's stock valued at $354,000 after purchasing an additional 661 shares in the last quarter. Empowered Funds LLC boosted its position in Park-Ohio by 4.3% during the fourth quarter. Empowered Funds LLC now owns 11,345 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 471 shares in the last quarter. American Century Companies Inc. boosted its position in Park-Ohio by 28.3% during the fourth quarter. American Century Companies Inc. now owns 202,311 shares of the industrial products company's stock valued at $5,315,000 after purchasing an additional 44,603 shares in the last quarter. King Luther Capital Management Corp purchased a new stake in Park-Ohio in the fourth quarter valued at about $1,287,000. Finally, SG Americas Securities LLC purchased a new stake in Park-Ohio in the fourth quarter valued at about $106,000. Institutional investors own 51.38% of the company's stock.

Park-Ohio Stock Up 1.1%

Park-Ohio stock traded up $0.20 during midday trading on Friday, reaching $18.25. The company's stock had a trading volume of 44,813 shares, compared to its average volume of 29,139. The stock's 50-day simple moving average is $19.65 and its 200-day simple moving average is $23.93. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.26. Park-Ohio Holdings Corp. has a 52-week low of $17.58 and a 52-week high of $34.50. The stock has a market capitalization of $259.70 million, a P/E ratio of 14.60 and a beta of 1.27.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.18). Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%. The firm had revenue of $405.40 million during the quarter, compared to analysts' expectations of $425.95 million.

Park-Ohio Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, May 2nd. Park-Ohio's payout ratio is 21.83%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Park-Ohio from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th.

Insider Transactions at Park-Ohio

In related news, Director Edward F. Crawford sold 22,500 shares of Park-Ohio stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $21.63, for a total transaction of $486,675.00. Following the completion of the transaction, the director now directly owns 766,273 shares in the company, valued at approximately $16,574,484.99. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 31.51% of the company's stock.

Park-Ohio 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.