Park-Ohio (NASDAQ:PKOH) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Park-Ohio Holdings Corp. shares have crossed above their 200-day moving average, recently trading at $20.84, which is above the average of $19.28, potentially indicating positive momentum.
• The company reported quarterly earnings of $0.75 per share, which missed analyst expectations by $0.01, and generated revenue of $400.10 million, below the estimated $416.10 million.
• Park-Ohio declared a quarterly dividend of $0.125, offering a 2.4% annualized yield, with a payout ratio of 24.63%, reflecting the company's commitment to returning value to shareholders.

Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.28 and traded as high as $21.57. Park-Ohio shares last traded at $20.84, with a volume of 42,285 shares.

Park-Ohio Stock Performance

The stock has a market capitalization of $300.10 million, a price-to-earnings ratio of 10.27 and a beta of 1.31. The firm has a fifty day moving average of $19.09 and a 200-day moving average of $19.28. The company has a quick ratio of 1.33, a current ratio of 2.60 and a debt-to-equity ratio of 1.75.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.75 earnings per share 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 company had revenue of $400.10 million during the quarter, compared to analyst estimates of $416.10 million.

Park-Ohio Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 1st. Park-Ohio's payout ratio is 24.63%.

Insider Buying and Selling at Park-Ohio

In related 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 cost of $20.04 per share, with a total value of $83,506.68. Following the completion of the acquisition, the chief executive officer directly owned 911,237 shares in the company, valued at $18,261,189.48. The trade was a 0.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Park-Ohio

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in shares of Park-Ohio by 14,282.4% in the first quarter. Russell Investments Group Ltd. now owns 2,445 shares of the industrial products company's stock worth $53,000 after acquiring an additional 2,428 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Park-Ohio by 377.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,699 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 2,134 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Park-Ohio in the first quarter valued at $80,000. Raymond James Financial Inc. purchased a new stake in shares of Park-Ohio in the second quarter valued at $90,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Park-Ohio by 10.7% in the first 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 period. 51.38% of the stock is owned by institutional investors and hedge funds.

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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