Private Management Group Inc. Trims Holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Private Management Group Inc. lessened its holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 3.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 981,414 shares of the industrial products company’s stock after selling 36,909 shares during the period. Private Management Group Inc. owned 0.07% of Park-Ohio worth $26,459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in shares of 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 buying an additional 90,998 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Park-Ohio during the 3rd quarter worth approximately $1,197,000. Assenagon Asset Management S.A. acquired a new stake in shares of Park-Ohio during the 3rd quarter worth approximately $741,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Park-Ohio in the 4th quarter valued at $562,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Park-Ohio by 75.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,493 shares of the industrial products company’s stock worth $946,000 after buying an additional 20,369 shares in the last quarter. 51.38% of the stock is owned by hedge funds and other institutional investors.

Park-Ohio Price Performance

PKOH stock traded up $0.36 during mid-day trading on Tuesday, reaching $23.91. 6,420 shares of the company’s stock were exchanged, compared to its average volume of 23,972. The company has a market cap of $312.50 million, a price-to-earnings ratio of 37.95 and a beta of 1.23. Park-Ohio Holdings Corp. has a 12-month low of $12.07 and a 12-month high of $28.79. The stock’s 50 day moving average is $25.35 and its 200 day moving average is $24.74. 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 (NASDAQ:PKOH) last issued its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $389.30 million during the quarter, compared to analysts’ expectations of $386.45 million. Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. During the same period in the previous year, the firm posted ($0.09) EPS. On average, research analysts expect that Park-Ohio Holdings Corp. will post 3.36 EPS for the current year.

Park-Ohio Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, May 2nd. Park-Ohio’s payout ratio is 79.37%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Park-Ohio from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th.

Insiders Place Their Bets

In related news, Director James W. Wert sold 1,500 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $25.98, for a total value of $38,970.00. Following the completion of the transaction, the director now directly owns 82,690 shares of the company’s stock, valued at approximately $2,148,286.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director James W. Wert sold 1,500 shares of the business’s stock in a transaction dated 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 directly owns 82,690 shares in the company, valued at $2,148,286.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James W. Wert sold 1,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the director now owns 89,190 shares of the company’s stock, valued at approximately $2,318,940. The disclosure for this sale can be found here. In the last three months, insiders sold 3,500 shares of company stock worth $91,990. Corporate insiders own 33.26% of the company’s stock.

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.