JPMorgan Chase & Co. Raises Stock Holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

JPMorgan Chase & Co. raised its stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH - Free Report) by 66.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,205 shares of the industrial products company's stock after buying an additional 17,179 shares during the quarter. JPMorgan Chase & Co. owned about 0.31% of Park-Ohio worth $1,135,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PKOH. First Eagle Investment Management LLC increased its position in Park-Ohio by 21.8% during the fourth quarter. First Eagle Investment Management LLC now owns 258,913 shares of the industrial products company's stock worth $6,802,000 after buying an additional 46,324 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of 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 worth $5,315,000 after acquiring an additional 44,603 shares during the period. Geode Capital Management LLC grew its position in Park-Ohio by 1.5% in the third quarter. Geode Capital Management LLC now owns 194,982 shares of the industrial products company's stock valued at $5,987,000 after purchasing an additional 2,928 shares in the last quarter. State Street Corp raised its position in Park-Ohio by 0.8% during the third quarter. State Street Corp now owns 134,356 shares of the industrial products company's stock worth $4,125,000 after acquiring an additional 1,034 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Park-Ohio by 13.6% in the 4th quarter. Bank of New York Mellon Corp now owns 100,432 shares of the industrial products company's stock valued at $2,638,000 after purchasing an additional 12,027 shares during the period. 51.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Park-Ohio from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th.

Park-Ohio Stock Up 0.4 %

Shares of PKOH stock traded up $0.08 on Thursday, reaching $19.99. 2,492 shares of the company were exchanged, compared to its average volume of 28,444. The company has a market cap of $284.49 million, a price-to-earnings ratio of 16.00 and a beta of 1.10. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.26. The company has a 50-day moving average of $21.13 and a 200-day moving average of $25.68. Park-Ohio Holdings Corp. has a one year low of $17.90 and a one year high of $34.50.

Park-Ohio Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.50 annualized dividend and a yield of 2.50%. Park-Ohio's dividend payout ratio is currently 20.49%.

Insider Activity at Park-Ohio

In other news, Director Edward F. Crawford sold 22,500 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $21.63, for a total value of $486,675.00. Following the completion of the transaction, the director now owns 766,273 shares in the company, valued at $16,574,484.99. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 31.51% of the stock is currently owned by company insiders.

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.