Cornercap Investment Counsel Inc. Makes New $562,000 Investment in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Cornercap Investment Counsel Inc. purchased a new position in Park-Ohio Holdings Corp. (NASDAQ:PKOH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 20,864 shares of the industrial products company’s stock, valued at approximately $562,000. Cornercap Investment Counsel Inc. owned about 0.16% of Park-Ohio at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PKOH. BlackRock Inc. grew its holdings in Park-Ohio by 351.6% in the second quarter. BlackRock Inc. now owns 488,811 shares of the industrial products company’s stock worth $9,287,000 after purchasing an additional 380,560 shares during the last quarter. Millennium Management LLC purchased a new position in Park-Ohio in the second quarter worth $2,310,000. Acadian Asset Management LLC grew its holdings in Park-Ohio by 70.6% in the third quarter. Acadian Asset Management LLC now owns 219,837 shares of the industrial products company’s stock worth $4,373,000 after purchasing an additional 90,998 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Park-Ohio by 105.1% during the second quarter. Geode Capital Management LLC now owns 168,277 shares of the industrial products company’s stock valued at $3,197,000 after buying an additional 86,216 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Park-Ohio by 10.1% during the first quarter. Gamco Investors INC. ET AL now owns 922,160 shares of the industrial products company’s stock valued at $12,975,000 after buying an additional 84,440 shares during the last quarter. 51.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Park-Ohio from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th.

Insider Activity at Park-Ohio

In related news, Director James W. Wert sold 1,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.02, for a total transaction of $27,020.00. Following the completion of the transaction, the director now directly owns 84,190 shares in the company, valued at $2,274,813.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director James W. Wert sold 1,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.02, for a total transaction of $27,020.00. Following the completion of the transaction, the director now directly owns 84,190 shares in the company, valued at $2,274,813.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James W. Wert sold 1,500 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total transaction of $38,970.00. Following the transaction, the director now owns 82,690 shares of the company’s stock, valued at $2,148,286.20. The disclosure for this sale can be found here. Insiders sold 3,500 shares of company stock worth $91,990 over the last three months. Company insiders own 33.26% of the company’s stock.

Park-Ohio Price Performance

Shares of PKOH opened at $24.14 on Wednesday. The firm has a market capitalization of $315.51 million, a PE ratio of 38.32 and a beta of 1.23. The company has a debt-to-equity ratio of 2.18, a current ratio of 2.27 and a quick ratio of 1.14. Park-Ohio Holdings Corp. has a 1-year low of $12.07 and a 1-year high of $28.79. The company’s fifty day moving average price is $25.40 and its 200-day moving average price is $24.58.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings data on Wednesday, March 6th. The industrial products company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $389.30 million for the quarter, compared to analysts’ expectations of $386.45 million. Park-Ohio had a net margin of 0.47% and a return on equity of 13.45%. During the same period last year, the firm earned ($0.09) earnings per share. On average, equities research analysts predict that Park-Ohio Holdings Corp. will post 3.36 EPS for the current year.

Park-Ohio Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.50 dividend on an annualized basis and a yield of 2.07%. Park-Ohio’s dividend payout ratio is presently 79.37%.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, and internationally. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.