AQR Capital Management LLC raised its stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 13.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 115,956 shares of the industrial products company’s stock after buying an additional 14,190 shares during the period. AQR Capital Management LLC owned about 0.95% of Park-Ohio Holdings Corp. worth $4,169,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Park-Ohio Holdings Corp. during the fourth quarter valued at $162,000. State Street Corp boosted its position in Park-Ohio Holdings Corp. by 2.4% in the fourth quarter. State Street Corp now owns 147,016 shares of the industrial products company’s stock valued at $6,261,000 after buying an additional 3,498 shares during the period. Dimensional Fund Advisors LP boosted its position in Park-Ohio Holdings Corp. by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 613,774 shares of the industrial products company’s stock valued at $26,147,000 after buying an additional 24,396 shares during the period. FMR LLC boosted its position in Park-Ohio Holdings Corp. by 2.3% in the fourth quarter. FMR LLC now owns 68,060 shares of the industrial products company’s stock valued at $2,899,000 after buying an additional 1,500 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Park-Ohio Holdings Corp. by 25.1% in the fourth quarter. Renaissance Technologies LLC now owns 104,700 shares of the industrial products company’s stock valued at $4,460,000 after buying an additional 21,000 shares during the period. Institutional investors and hedge funds own 58.38% of the company’s stock.
Shares of Park-Ohio Holdings Corp. (NASDAQ PKOH) traded up 3.19% during midday trading on Monday, reaching $40.40. The company had a trading volume of 30,474 shares. The stock’s 50 day moving average is $39.08 and its 200-day moving average is $39.07. The stock has a market capitalization of $492.84 million, a PE ratio of 15.29 and a beta of 3.47. Park-Ohio Holdings Corp. has a 12-month low of $30.01 and a 12-month high of $47.00.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. On average, equities research analysts predict that Park-Ohio Holdings Corp. will post $3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.50 annualized dividend and a yield of 1.24%. Park-Ohio Holdings Corp.’s payout ratio is currently 18.80%.
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PKOH has been the topic of a number of recent research reports. TheStreet raised Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a research report on Monday, May 8th. Zacks Investment Research raised Park-Ohio Holdings Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Friday. FBR & Co lifted their target price on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a research report on Wednesday, August 9th. Finally, BidaskClub lowered Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Park-Ohio Holdings Corp. has a consensus rating of “Buy” and a consensus target price of $45.25.
In other Park-Ohio Holdings Corp. news, Director Patrick V. Auletta sold 2,010 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $38.55, for a total value of $77,485.50. Following the transaction, the director now owns 18,645 shares in the company, valued at $718,764.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 31.00% of the stock is currently owned by corporate insiders.
About Park-Ohio Holdings Corp.
Park-Ohio Holdings Corp. is a diversified international company providing supply chain management outsourcing services, capital equipment used on their production lines and manufactured components used to assemble its products. The Company operates in three segments: Supply Technologies, Assembly Components and Engineered Products.
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