Park-Ohio (NASDAQ:PKOH) Sets New 52-Week High – Should You Buy?

Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $41.46 and last traded at $41.1040, with a volume of 10949 shares trading hands. The stock had previously closed at $39.93.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PKOH shares. Wall Street Zen downgraded Park-Ohio from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Weiss Ratings upgraded Park-Ohio from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, KeyCorp boosted their target price on shares of Park-Ohio from $37.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.00.

Park-Ohio Price Performance

The stock has a market capitalization of $594.72 million, a PE ratio of 24.58, a PEG ratio of 1.09 and a beta of 1.18. The company has a current ratio of 2.40, a quick ratio of 1.23 and a debt-to-equity ratio of 1.70. The company’s 50 day simple moving average is $36.33 and its 200 day simple moving average is $29.81.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. Park-Ohio had a return on equity of 9.93% and a net margin of 1.46%.The company had revenue of $421.00 million during the quarter, compared to the consensus estimate of $413.90 million. On average, equities analysts anticipate that Park-Ohio Holdings Corp. will post 3.1 earnings per share for the current year.

Park-Ohio Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 31st. Park-Ohio’s dividend payout ratio is presently 29.76%.

Insiders Place Their Bets

In related news, insider Robert D. Vilsack sold 6,404 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $38.45, for a total transaction of $246,233.80. Following the transaction, the insider directly owned 186,539 shares in the company, valued at approximately $7,172,424.55. This represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Park-Ohio

Several hedge funds have recently modified their holdings of PKOH. AQR Capital Management LLC increased its position in Park-Ohio by 4.0% during the fourth quarter. AQR Capital Management LLC now owns 13,523 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 517 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $118,000 after purchasing an additional 527 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Park-Ohio by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 13,836 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 589 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Park-Ohio by 69.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,602 shares of the industrial products company’s stock valued at $55,000 after buying an additional 1,065 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Park-Ohio by 25.3% during the 3rd quarter. Bank of America Corp DE now owns 6,048 shares of the industrial products company’s stock valued at $128,000 after buying an additional 1,222 shares during the period. 51.38% of the stock is owned by institutional investors and hedge funds.

Park-Ohio Company Profile

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.