Park-Ohio Holdings Corp. (NASDAQ:PKOH) Sees Large Decrease in Short Interest

Park-Ohio Holdings Corp. (NASDAQ:PKOH - Get Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 126,800 shares, a decline of 24.6% from the April 30th total of 168,200 shares. Based on an average daily volume of 26,400 shares, the days-to-cover ratio is presently 4.8 days. Approximately 1.3% of the company's shares are sold short.

Analyst Upgrades and Downgrades

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

Park-Ohio Stock Up 0.3%

NASDAQ PKOH traded up $0.06 during trading on Tuesday, reaching $17.88. 10,831 shares of the company's stock were exchanged, compared to its average volume of 29,067. The stock has a market cap of $254.43 million, a P/E ratio of 14.30 and a beta of 1.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.26 and a current ratio of 2.45. The company has a 50 day moving average price of $19.56 and a two-hundred day moving average price of $23.83. Park-Ohio has a 1 year low of $17.58 and a 1 year high of $34.50.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.66 earnings per share (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 analysts' expectations of $425.95 million. Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%.

Park-Ohio Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, May 2nd. Park-Ohio's dividend payout ratio (DPR) is 21.83%.

Insider Buying and Selling at Park-Ohio

In other news, Director Edward F. Crawford sold 22,500 shares of Park-Ohio 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 sale, the director now directly owns 766,273 shares of the company's stock, valued at approximately $16,574,484.99. The trade was a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 31.51% of the stock is owned by corporate insiders.

Institutional Trading of Park-Ohio

A number of institutional investors have recently bought and sold shares of PKOH. Russell Investments Group Ltd. lifted its holdings in shares of Park-Ohio by 14,282.4% in the 1st 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 last quarter. Federated Hermes Inc. lifted its holdings 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 valued at $58,000 after purchasing an additional 944 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Park-Ohio in the 1st quarter valued at about $80,000. SG Americas Securities LLC purchased a new stake in shares of Park-Ohio in the 4th quarter valued at about $106,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Park-Ohio by 10.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,449 shares of the industrial products company's stock valued at $118,000 after purchasing an additional 527 shares during the last quarter. 51.38% of the stock is owned by hedge funds and other institutional investors.

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.