Park-Ohio (NASDAQ:PKOH) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.54 and traded as high as $27.50. Park-Ohio shares last traded at $26.08, with a volume of 28,661 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. KeyCorp raised shares of Park-Ohio from a “sector weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Park-Ohio in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Park-Ohio to a “hold” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Park-Ohio Stock Down 3.4%

The stock has a market cap of $375.55 million, a price-to-earnings ratio of 15.52 and a beta of 1.16. The company has a current ratio of 2.56, a quick ratio of 1.32 and a debt-to-equity ratio of 1.74. The firm’s 50 day moving average is $23.47 and its two-hundred day moving average is $21.54.

Park-Ohio Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.9%. Park-Ohio’s dividend payout ratio is presently 29.76%.

Insider Transactions at Park-Ohio

In other Park-Ohio news, Director Ronna Romney sold 2,975 shares of Park-Ohio stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $20.29, for a total value of $60,362.75. Following the completion of the sale, the director directly owned 28,944 shares of the company’s stock, valued at approximately $587,273.76. The trade was a 9.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 31.51% of the company’s stock.

Institutional Investors Weigh In On Park-Ohio

Several hedge funds have recently made changes to their positions in PKOH. 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. Jones Financial Companies Lllp acquired a new stake in Park-Ohio in the 1st quarter worth about $80,000. First Eagle Investment Management LLC grew its holdings in Park-Ohio by 18.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 386,025 shares of the industrial products company’s stock valued at $6,894,000 after buying an additional 61,132 shares during the period. CM Wealth Advisors LLC increased its stake in shares of Park-Ohio by 4.2% during the 2nd quarter. CM Wealth Advisors LLC now owns 107,676 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 4,350 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Park-Ohio by 2.9% during the 2nd quarter. Acadian Asset Management LLC now owns 234,968 shares of the industrial products company’s stock valued at $4,193,000 after acquiring an additional 6,530 shares during the last quarter. Institutional investors and hedge funds own 51.38% of the company’s stock.

About Park-Ohio

Park-Ohio Holdings Corp is a diversified industrial company that supplies engineered products and distribution services to a broad array of end markets. Through its two primary operating segments—Engineered Solutions and Supply Chain Solutions—the company delivers metal components, assemblies and value-added distribution tailored to energy, transportation, industrial and commercial applications.

The Engineered Solutions segment provides design, machining, fabrication and assembly of custom metal parts, including heat exchangers, welded assemblies, tubing products and precision-machined components.