Park-Ohio Holdings Corp. (NASDAQ:PKOH) Short Interest Update

Park-Ohio Holdings Corp. (NASDAQ:PKOH - Get Free Report) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 85,400 shares, a drop of 32.6% from the May 15th total of 126,800 shares. Approximately 0.9% of the company's shares are sold short. Based on an average trading volume of 28,000 shares, the days-to-cover ratio is presently 3.1 days.

Hedge Funds Weigh In On Park-Ohio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in shares of Park-Ohio during the first quarter worth about $415,000. Jones Financial Companies Lllp bought a new position in shares of Park-Ohio during the 1st quarter worth approximately $80,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Park-Ohio by 10.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,449 shares of the industrial products company's stock worth $118,000 after acquiring an additional 527 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Park-Ohio by 5.8% in the first quarter. Trexquant Investment LP now owns 12,219 shares of the industrial products company's stock worth $264,000 after purchasing an additional 673 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Park-Ohio by 0.5% during the first quarter. Gamco Investors INC. ET AL now owns 964,877 shares of the industrial products company's stock worth $20,841,000 after purchasing an additional 4,750 shares during the last quarter. 51.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Park-Ohio Trading Up 1.4%

Park-Ohio stock traded up $0.24 during mid-day trading on Friday, hitting $17.12. 38,945 shares of the company's stock were exchanged, compared to its average volume of 29,177. Park-Ohio has a fifty-two week low of $16.81 and a fifty-two week high of $34.50. The company has a quick ratio of 1.25, a current ratio of 2.41 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $243.62 million, a P/E ratio of 7.48 and a beta of 1.28. The company's 50 day simple moving average is $18.77 and its 200-day simple moving average is $22.52.

Park-Ohio (NASDAQ:PKOH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.18). The business had revenue of $405.40 million during the quarter, compared to analyst estimates of $425.95 million. Park-Ohio had a net margin of 1.86% and a return on equity of 13.76%.

Park-Ohio Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $0.125 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.50 annualized dividend and a yield of 2.92%. Park-Ohio's dividend payout ratio is currently 21.83%.

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.