Private Management Group Inc. Boosts 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. lifted its position in Park-Ohio Holdings Corp. (NASDAQ:PKOH - Free Report) by 4.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,004,311 shares of the industrial products company's stock after acquiring an additional 40,594 shares during the period. Private Management Group Inc. owned 7.06% of Park-Ohio worth $21,693,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PKOH. Federated Hermes Inc. grew its stake in shares of Park-Ohio by 74.9% in the 4th quarter. Federated Hermes Inc. now owns 2,204 shares of the industrial products company's stock worth $58,000 after buying an additional 944 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Park-Ohio by 33.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,272 shares of the industrial products company's stock worth $138,000 after buying an additional 1,328 shares during the last quarter. Bank of America Corp DE raised its holdings in Park-Ohio by 47.4% in the 4th quarter. Bank of America Corp DE now owns 9,127 shares of the industrial products company's stock worth $240,000 after purchasing an additional 2,934 shares during the period. Deutsche Bank AG raised its holdings in Park-Ohio by 88.7% in the 4th quarter. Deutsche Bank AG now owns 9,261 shares of the industrial products company's stock worth $243,000 after purchasing an additional 4,354 shares during the period. Finally, 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. Institutional investors own 51.38% of the company's stock.

Park-Ohio Stock Performance

Park-Ohio stock traded down $0.43 during trading on Tuesday, reaching $16.90. The company had a trading volume of 2,870 shares, compared to its average volume of 26,989. Park-Ohio Holdings Corp. has a 52 week low of $16.26 and a 52 week high of $34.50. The firm's 50-day simple moving average is $17.90 and its 200 day simple moving average is $20.73. The firm has a market capitalization of $240.42 million, a price-to-earnings ratio of 7.38 and a beta of 1.25. 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 announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.18). Park-Ohio had a net margin of 1.86% and a return on equity of 13.76%. The business 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 announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.50 annualized dividend and a dividend yield of 2.96%. Park-Ohio's dividend payout ratio (DPR) is 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.