Park-Ohio (NASDAQ:PKOH) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) have crossed above their 200-day moving average, indicating potential bullish sentiment, with a recent price of $20.22.
• The company reported a net earnings miss with an EPS of $0.75, falling short of the analysts' expectations by $0.01, along with revenue of $400.10 million against an estimate of $416.10 million.
• Park-Ohio declared a quarterly dividend of $0.125 per share, translating to an annualized yield of 2.5%, and insiders control approximately 31.51% of the company's stock.

Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.13 and traded as high as $20.52. Park-Ohio shares last traded at $20.22, with a volume of 14,395 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Park-Ohio in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Park-Ohio Stock Performance

The stock's 50-day simple moving average is $20.24 and its 200-day simple moving average is $19.13. The stock has a market cap of $291.07 million, a price-to-earnings ratio of 9.96 and a beta of 1.34. The company has a current ratio of 2.60, a quick ratio of 1.33 and a debt-to-equity ratio of 1.75.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.01). Park-Ohio had a return on equity of 12.27% and a net margin of 1.73%.The business had revenue of $400.10 million for the quarter, compared to analyst estimates of $416.10 million.

Park-Ohio Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 1st. Park-Ohio's dividend payout ratio is 24.63%.

Insider Buying and Selling at Park-Ohio

In other news, CEO Matthew V. Crawford purchased 4,167 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $20.04 per share, with a total value of $83,506.68. Following the acquisition, the chief executive officer owned 911,237 shares in the company, valued at approximately $18,261,189.48. The trade was a 0.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 31.51% of the company's stock.

Institutional Trading of Park-Ohio

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of Park-Ohio during the 3rd quarter worth approximately $1,079,000. Squarepoint Ops LLC lifted its holdings in shares of Park-Ohio by 58.6% during the 2nd quarter. Squarepoint Ops LLC now owns 31,247 shares of the industrial products company's stock worth $558,000 after acquiring an additional 11,542 shares during the period. Tower Research Capital LLC TRC increased its position in Park-Ohio by 377.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,699 shares of the industrial products company's stock worth $48,000 after purchasing an additional 2,134 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Park-Ohio during the 2nd quarter worth approximately $90,000. Finally, Qube Research & Technologies Ltd increased its position in Park-Ohio by 14.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 31,549 shares of the industrial products company's stock worth $563,000 after purchasing an additional 3,985 shares in the last quarter. Institutional investors own 51.38% of the company's stock.

About Park-Ohio

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.