Northern Trust Corp Increases Stock Position in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Northern Trust Corp lifted its stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,976 shares of the industrial products company’s stock after purchasing an additional 8,118 shares during the quarter. Northern Trust Corp owned about 0.52% of Park-Ohio worth $1,917,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. King Luther Capital Management Corp acquired a new stake in Park-Ohio in the fourth quarter valued at about $1,287,000. First Eagle Investment Management LLC boosted its position in Park-Ohio by 21.8% during the fourth quarter. First Eagle Investment Management LLC now owns 258,913 shares of the industrial products company’s stock worth $6,802,000 after purchasing an additional 46,324 shares in the last quarter. American Century Companies Inc. grew its holdings in Park-Ohio by 28.3% in the fourth quarter. American Century Companies Inc. now owns 202,311 shares of the industrial products company’s stock valued at $5,315,000 after purchasing an additional 44,603 shares during the last quarter. Brandywine Global Investment Management LLC increased its position in shares of Park-Ohio by 444.4% in the fourth quarter. Brandywine Global Investment Management LLC now owns 47,530 shares of the industrial products company’s stock valued at $1,249,000 after buying an additional 38,800 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Park-Ohio by 3.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 960,127 shares of the industrial products company’s stock valued at $25,223,000 after buying an additional 29,004 shares in the last quarter. Hedge funds and other institutional investors own 51.38% of the company’s stock.

Park-Ohio Stock Performance

Shares of NASDAQ PKOH opened at $18.14 on Tuesday. Park-Ohio Holdings Corp. has a 12 month low of $17.58 and a 12 month high of $34.50. The company has a 50-day simple moving average of $19.97 and a 200-day simple moving average of $24.34. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.26. The company has a market cap of $258.13 million, a PE ratio of 14.51 and a beta of 1.27.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.18). The company had revenue of $405.40 million for the quarter, compared to analyst estimates of $425.95 million. Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%.

Park-Ohio Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 2.76%. Park-Ohio’s dividend payout ratio (DPR) is 21.83%.

Insiders Place Their Bets

In related news, Director Edward F. Crawford sold 22,500 shares of Park-Ohio stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $21.63, for a total transaction of $486,675.00. Following the sale, the director now owns 766,273 shares of the company’s stock, valued at $16,574,484.99. The trade was a 2.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 31.51% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Park-Ohio from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th.

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.