Park-Ohio Holdings Corp. (NASDAQ:PKOH) Short Interest Update

Park-Ohio Holdings Corp. (NASDAQ:PKOH) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 77,112 shares, a growth of 30.5% from the December 31st total of 59,104 shares. Based on an average trading volume of 21,421 shares, the short-interest ratio is presently 3.6 days. Currently, 0.8% of the company’s stock are sold short. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 21,421 shares, the short-interest ratio is presently 3.6 days.

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. 31.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Park-Ohio

A number of hedge funds have recently modified their holdings of the business. CWM LLC grew its holdings in shares of Park-Ohio by 238.4% in the third quarter. CWM LLC now owns 1,215 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 856 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Park-Ohio by 377.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,699 shares of the industrial products company’s stock valued at $48,000 after buying an additional 2,134 shares during the period. BNP Paribas Financial Markets boosted its position in Park-Ohio by 69.3% in 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. Jones Financial Companies Lllp acquired a new position in shares of Park-Ohio in the first quarter worth $80,000. Finally, Russell Investments Group Ltd. increased its position in shares of Park-Ohio by 73.4% during the third quarter. Russell Investments Group Ltd. now owns 3,920 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 1,659 shares during the period. 51.38% of the stock is currently owned by hedge funds and other institutional investors.

Park-Ohio Trading Up 2.1%

Shares of PKOH stock opened at $24.24 on Wednesday. Park-Ohio has a fifty-two week low of $15.52 and a fifty-two week high of $26.31. The firm has a market capitalization of $349.06 million, a P/E ratio of 14.43 and a beta of 1.16. The stock’s fifty day moving average is $22.07 and its two-hundred day moving average is $20.57. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.32 and a current ratio of 2.56.

Park-Ohio (NASDAQ:PKOH) last issued its earnings results on Wednesday, November 5th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.18). The company had revenue of $398.60 million for the quarter, compared to analyst estimates of $417.30 million. Park-Ohio had a return on equity of 10.53% and a net margin of 1.46%.

Park-Ohio Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, February 6th. Park-Ohio’s dividend payout ratio is presently 29.76%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Park-Ohio in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Park-Ohio has an average rating of “Hold”.

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.