Private Management Group Inc. Increases Stake in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Key Points

• Private Management Group Inc. has increased its stake in Park-Ohio Holdings Corp. by 4.2%, now owning approximately 7.06% of the company, valued at around $21.69 million.
• Park-Ohio recently reported a quarterly earnings miss with an EPS of $0.66, falling short of the expected $0.84, and had revenue of $405.40 million against a consensus estimate of $425.95 million.
• The company has announced a quarterly dividend of $0.125 per share, set to be paid on August 15, which reflects a 2.88% dividend yield based on an annualized amount of $0.50.

Private Management Group Inc. raised its holdings in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,004,311 shares of the industrial products company's stock after acquiring an additional 40,594 shares during the quarter. Private Management Group Inc. owned approximately 7.06% of Park-Ohio worth $21,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Bailard Inc. raised its holdings in Park-Ohio by 15.3% in the 1st quarter. Bailard Inc. now owns 11,299 shares of the industrial products company's stock worth $244,000 after purchasing an additional 1,500 shares during the period. Victory Capital Management Inc. raised its stake in shares of Park-Ohio by 10.6% in the first quarter. Victory Capital Management Inc. now owns 26,000 shares of the industrial products company's stock worth $562,000 after buying an additional 2,500 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Park-Ohio in the fourth quarter worth about $1,547,000. Squarepoint Ops LLC lifted its position in shares of Park-Ohio by 165.0% during the 4th quarter. Squarepoint Ops LLC now owns 19,067 shares of the industrial products company's stock valued at $501,000 after buying an additional 11,871 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Park-Ohio by 14.2% during the 4th quarter. Two Sigma Advisers LP now owns 20,847 shares of the industrial products company's stock valued at $548,000 after acquiring an additional 2,600 shares during the period. Hedge funds and other institutional investors own 51.38% of the company's stock.

Park-Ohio Price Performance

NASDAQ PKOH opened at $17.35 on Friday. The stock has a market cap of $246.89 million, a price-to-earnings ratio of 7.58 and a beta of 1.25. Park-Ohio Holdings Corp. has a 12 month low of $16.26 and a 12 month high of $34.50. The company's 50 day moving average is $18.00 and its two-hundred day moving average is $20.86. The company has a current ratio of 2.41, a quick ratio of 1.25 and a debt-to-equity ratio of 1.81.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.18). The business had revenue of $405.40 million for the quarter, compared to the consensus estimate of $425.95 million. Park-Ohio had a net margin of 1.86% and a return on equity of 13.76%.

Park-Ohio Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, August 1st. Park-Ohio's payout ratio is currently 21.83%.

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.

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