Short Interest in Park-Ohio Holdings Corp. (NASDAQ:PKOH) Decreases By 32.6%

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

Institutional Investors Weigh In On Park-Ohio

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in Park-Ohio by 14,282.4% during the 1st quarter. Russell Investments Group Ltd. now owns 2,445 shares of the industrial products company's stock valued at $53,000 after buying an additional 2,428 shares during the period. Federated Hermes Inc. raised its stake 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 acquiring an additional 944 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Park-Ohio by 10.7% in 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 during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of 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 worth $138,000 after purchasing an additional 1,328 shares during the period. 51.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Park-Ohio Price Performance

Shares of NASDAQ:PKOH traded up $0.08 during mid-day trading on Tuesday, reaching $17.63. The stock had a trading volume of 956 shares, compared to its average volume of 29,025. The business's 50 day moving average price is $19.00 and its 200 day moving average price is $22.81. Park-Ohio has a 1 year low of $17.24 and a 1 year high of $34.50. The company has a market cap of $250.80 million, a P/E ratio of 14.10 and a beta of 1.28. 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 (NASDAQ:PKOH - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.18). The firm had revenue of $405.40 million for the quarter, compared to the consensus estimate of $425.95 million. Park-Ohio had a net margin of 1.01% and a return on equity of 14.64%.

Park-Ohio Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.50 annualized dividend and a yield of 2.84%. Park-Ohio's 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.

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