Park-Ohio (NASDAQ:PKOH) Stock Breaks Below 50-Day Moving Average - Here's What Happened

Key Points

• Park-Ohio shares slipped below their 50-day moving average of $45.99 on Friday, reaching an intraday low of $44.43 before last trading at $45.45.
• The company beat quarterly expectations, reporting EPS of $1.04 versus $0.90 forecast and revenue of $458.5 million versus $432.1 million expected.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $59; recent research ratings were mixed, including upgrades and a downgrade to Hold.

Park-Ohio Holdings Corp. (NASDAQ:PKOH - Get Free Report) crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $45.99 and traded as low as $44.43. Park-Ohio shares last traded at $45.45, with a volume of 105,961 shares.

Analyst Ratings Changes

A number of research firms recently weighed in on PKOH. Weiss Ratings upgraded shares of Park-Ohio from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. Wall Street Zen upgraded shares of Park-Ohio from a "buy" rating to a "strong-buy" rating in a research report on Thursday, August 13th. KeyCorp raised their target price on shares of Park-Ohio from $45.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Zacks Research cut shares of Park-Ohio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Park-Ohio presently has an average rating of "Moderate Buy" and an average price target of $59.00.

Park-Ohio Price Performance

The company has a market cap of $658.57 million, a price-to-earnings ratio of 18.48, a PEG ratio of 1.15 and a beta of 1.34. The company has a 50-day simple moving average of $45.99 and a 200-day simple moving average of $35.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.31 and a current ratio of 2.44.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.90 by $0.14. Park-Ohio had a return on equity of 11.88% and a net margin of 2.04%. The business had revenue of $458.50 million during the quarter, compared to analysts' expectations of $432.13 million. As a group, research analysts predict that Park-Ohio Holdings Corp. will post 3.41 earnings per share for the current year.

Park-Ohio Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a $0.1250 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.50 annualized dividend and a yield of 1.1%. Park-Ohio's dividend payout ratio is presently 20.33%.

Insiders Place Their Bets

In other Park-Ohio news, insider Robert Vilsack sold 3,190 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $46.42, for a total value of $148,079.80. Following the completion of the sale, the insider owned 144,024 shares of the company's stock, valued at approximately $6,685,594.08. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Wert sold 3,000 shares of the business's stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $47.50, for a total transaction of $142,500.00. Following the sale, the director owned 85,456 shares in the company, valued at $4,059,160. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 52,330 shares of company stock valued at $2,438,390. 31.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Park-Ohio

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Park-Ohio in the 2nd quarter worth about $28,189,000. JB Capital Partners LP acquired a new stake in Park-Ohio during the second quarter worth approximately $4,672,389. Bank of New York Mellon Corp acquired a new stake in shares of Park-Ohio during the second quarter worth $4,403,000. CM Wealth Advisors LLC acquired a new stake in Park-Ohio in the 2nd quarter worth about $4,302,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Park-Ohio in the second quarter worth approximately $2,235,000. Hedge funds and other institutional investors own 51.38% of the company's stock.

About Park-Ohio

Park-Ohio Holdings Corp. is a diversified industrial company that provides supply-chain management services and manufactures components and equipment for industrial and transportation markets. Its operations are organized around Supply Technologies, Assembly Components and Engineered Products. Through Supply Technologies, the company sources, manages and distributes production parts and supplies for customers. Its other businesses make products that include engineered components, forged and machined parts, industrial fasteners, and induction heating and melting equipment.

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