Bank of New York Mellon Corp Raises Stock Position in Park-Ohio Holdings Corp. (NASDAQ:PKOH)

Bank of New York Mellon Corp raised its stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 13.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,432 shares of the industrial products company’s stock after purchasing an additional 12,027 shares during the period. Bank of New York Mellon Corp’s holdings in Park-Ohio were worth $2,638,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Segall Bryant & Hamill LLC acquired a new stake in shares of Park-Ohio in the third quarter valued at about $1,758,000. Rhumbline Advisers raised its position in shares of Park-Ohio by 5.2% during the 4th quarter. Rhumbline Advisers now owns 13,463 shares of the industrial products company’s stock valued at $354,000 after buying an additional 661 shares during the period. Empowered Funds LLC lifted its holdings in Park-Ohio by 5.2% in the third quarter. Empowered Funds LLC now owns 10,874 shares of the industrial products company’s stock valued at $334,000 after acquiring an additional 536 shares during the last quarter. Geode Capital Management LLC raised its holdings in Park-Ohio by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 194,982 shares of the industrial products company’s stock valued at $5,987,000 after buying an additional 2,928 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Park-Ohio in the 3rd quarter valued at approximately $242,000. Hedge funds and other institutional investors own 51.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Park-Ohio

In other Park-Ohio news, Director Edward F. Crawford sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $21.63, for a total value of $486,675.00. Following the sale, the director now directly owns 766,273 shares of the company’s stock, valued at approximately $16,574,484.99. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 33.04% of the company’s stock.

Park-Ohio Price Performance

Park-Ohio stock opened at $22.43 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.26 and a current ratio of 2.45. Park-Ohio Holdings Corp. has a one year low of $21.00 and a one year high of $34.50. The company has a market cap of $319.20 million, a P/E ratio of 17.94 and a beta of 1.16. The business has a fifty day moving average of $24.20 and a two-hundred day moving average of $27.59.

Park-Ohio Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, February 7th. Park-Ohio’s dividend payout ratio (DPR) is presently 20.49%.

Park-Ohio 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.