Park-Ohio Holdings Corp. (NASDAQ:PKOH) Sees Significant Decrease in Short Interest

Park-Ohio Holdings Corp. (NASDAQ:PKOH) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 59,104 shares, a drop of 26.5% from the December 15th total of 80,425 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 30,797 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily trading volume, of 30,797 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Park-Ohio in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Insiders Place Their Bets

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

Institutional Trading of Park-Ohio

A number of hedge funds have recently modified their holdings of PKOH. Teton Advisors LLC purchased a new position in Park-Ohio during the third quarter valued at approximately $3,313,000. Gamco Investors INC. ET AL boosted its position in Park-Ohio by 12.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,083,270 shares of the industrial products company’s stock worth $19,347,000 after purchasing an additional 118,393 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Park-Ohio by 18.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 386,025 shares of the industrial products company’s stock worth $6,894,000 after purchasing an additional 61,132 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Park-Ohio during the 3rd quarter valued at approximately $1,079,000. Finally, Gabelli Funds LLC lifted its stake in shares of Park-Ohio by 4.6% in the 3rd quarter. Gabelli Funds LLC now owns 502,200 shares of the industrial products company’s stock valued at $10,667,000 after purchasing an additional 22,000 shares during the period. Hedge funds and other institutional investors own 51.38% of the company’s stock.

Park-Ohio Stock Performance

Shares of Park-Ohio stock traded down $0.21 on Friday, reaching $23.03. 20,427 shares of the stock were exchanged, compared to its average volume of 23,804. The business has a 50 day moving average price of $21.30 and a two-hundred day moving average price of $20.17. The firm has a market capitalization of $331.63 million, a price-to-earnings ratio of 13.71 and a beta of 1.17. Park-Ohio has a twelve month low of $15.52 and a twelve month high of $26.31. The company has a quick ratio of 1.32, a current ratio of 2.56 and a debt-to-equity ratio of 1.74.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.18). The business had revenue of $398.60 million for the quarter, compared to analysts’ expectations of $417.30 million. Park-Ohio had a return on equity of 10.53% and a net margin of 1.46%.Park-Ohio has set its FY 2025 guidance at 2.700-2.900 EPS.

Park-Ohio Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, November 14th. Park-Ohio’s dividend payout ratio (DPR) is currently 29.76%.

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.