Park-Ohio Holdings Corp. (NASDAQ:PKOH) Shareholders to Get $0.12 Quarterly Dividend

Park-Ohio Holdings Corp. (NASDAQ:PKOH) declared a quarterly dividend on Friday, October 30th. Stockholders of record on Friday, November 13th will be given a dividend of $0.1250 per share by the industrial products company on Friday, November 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 13th.

Park-Ohio has raised its dividend by an average of 0.1% per year over the last three years. Park-Ohio has a dividend payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Park-Ohio to earn $3.78 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 13.2%.

Park-Ohio Price Performance

NASDAQ:PKOH opened at $46.60 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.31 and a current ratio of 2.44. The company has a 50-day moving average of $45.88 and a 200-day moving average of $35.63. Park-Ohio has a 52 week low of $18.69 and a 52 week high of $53.30. The company has a market capitalization of $675.23 million, a price-to-earnings ratio of 24.79, a PEG ratio of 1.15 and a beta of 1.34.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.14. Park-Ohio had a net margin of 2.04% and a return on equity of 11.50%. The firm had revenue of $458.50 million during the quarter, compared to analyst estimates of $432.13 million. As a group, equities research analysts anticipate that Park-Ohio will post 3.39 earnings per share for the current fiscal year.

Insider Activity at Park-Ohio

In related news, insider Robert D. Vilsack sold 3,190 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $46.42, for a total transaction of $148,079.80. Following the sale, the insider directly owned 144,024 shares in the company, valued at $6,685,594.08. This represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James W. Wert sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $47.50, for a total value of $142,500.00. Following the sale, the director directly owned 85,456 shares of the company’s stock, valued at $4,059,160. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 52,330 shares of company stock valued at $2,438,390. Company insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new stake in Park-Ohio during the 3rd quarter worth about $27,000. Legal & General Group Plc acquired a new position in shares of Park-Ohio during the second quarter valued at $38,000. USA Financial Formulas acquired a new stake in Park-Ohio in the third quarter worth about $43,000. Commonwealth Equity Services LLC acquired a new stake in Park-Ohio in the third quarter worth about $268,000. Finally, Ancora Advisors LLC raised its holdings in Park-Ohio by 7,756.0% during the 2nd quarter. Ancora Advisors LLC now owns 7,856 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 7,756 shares during the last quarter. 51.38% of the stock is owned by institutional investors.

About Park-Ohio

Park-Ohio Holdings Corp. is a diversified industrial company that provides supply-chain management services and manufactures components and equipment for industrial and transportation markets. Its operations are organized around Supply Technologies, Assembly Components and Engineered Products. Through Supply Technologies, the company sources, manages and distributes production parts and supplies for customers. Its other businesses make products that include engineered components, forged and machined parts, industrial fasteners, and induction heating and melting equipment.