Renaissance Technologies LLC Raises Holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Renaissance Technologies LLC boosted its position in Park-Ohio Holdings Corp. (NASDAQ:PKOH - Free Report) by 246.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,300 shares of the industrial products company's stock after purchasing an additional 19,410 shares during the period. Renaissance Technologies LLC owned about 0.19% of Park-Ohio worth $717,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. increased its position in shares of Park-Ohio by 74.9% in the fourth quarter. Federated Hermes Inc. now owns 2,204 shares of the industrial products company's stock valued at $58,000 after buying an additional 944 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Park-Ohio in the 4th quarter valued at about $106,000. Wells Fargo & Company MN increased its holdings in Park-Ohio by 33.7% during the 4th quarter. Wells Fargo & Company MN now owns 5,272 shares of the industrial products company's stock valued at $138,000 after acquiring an additional 1,328 shares in the last quarter. Jane Street Group LLC acquired a new position in Park-Ohio during the third quarter worth about $242,000. Finally, Empowered Funds LLC lifted its holdings in shares of Park-Ohio by 4.3% in the fourth quarter. Empowered Funds LLC now owns 11,345 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 471 shares in the last quarter. 51.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Edward F. Crawford sold 22,500 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $21.63, for a total transaction of $486,675.00. Following the completion of the transaction, the director now owns 766,273 shares of the company's stock, valued at $16,574,484.99. This represents a 2.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 31.51% of the company's stock.

Analyst Upgrades and Downgrades

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

Park-Ohio Price Performance

Shares of NASDAQ PKOH traded down $1.70 during trading on Wednesday, reaching $19.44. The company had a trading volume of 14,886 shares, compared to its average volume of 28,451. The company has a current ratio of 2.45, a quick ratio of 1.26 and a debt-to-equity ratio of 1.90. Park-Ohio Holdings Corp. has a twelve month low of $17.90 and a twelve month high of $34.50. The stock has a 50-day moving average price of $20.89 and a two-hundred day moving average price of $25.39. The stock has a market capitalization of $276.61 million, a PE ratio of 15.67 and a beta of 1.27.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last released its 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 firm had revenue of $405.40 million during the quarter, compared to analysts' expectations of $425.95 million. Park-Ohio had a net margin of 1.01% and a return on equity of 14.64%.

Park-Ohio Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.50 annualized dividend and a yield of 2.57%. Park-Ohio's dividend payout ratio (DPR) is presently 20.49%.

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.