Short Interest in Park-Ohio Holdings Corp. (NASDAQ:PKOH) Grows By 22.5%

Park-Ohio Holdings Corp. (NASDAQ:PKOH) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 93,200 shares, an increase of 22.5% from the July 31st total of 76,100 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 28,800 shares, the short-interest ratio is presently 3.2 days.

In related news, Director James W. Wert purchased 2,500 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $27.62 per share, with a total value of $69,050.00. Following the transaction, the director now directly owns 80,320 shares in the company, valued at $2,218,438.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronna Romney sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $26.14, for a total value of $130,700.00. Following the completion of the transaction, the director now directly owns 18,909 shares of the company’s stock, valued at approximately $494,281.26. The disclosure for this sale can be found here. Insiders own 31.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Park-Ohio by 5.6% during the second quarter. BlackRock Inc. now owns 625,903 shares of the industrial products company’s stock worth $20,397,000 after purchasing an additional 33,110 shares during the last quarter. Morgan Stanley lifted its position in shares of Park-Ohio by 153.7% during the 2nd quarter. Morgan Stanley now owns 36,590 shares of the industrial products company’s stock valued at $1,192,000 after acquiring an additional 22,167 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Park-Ohio by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 896,556 shares of the industrial products company’s stock worth $27,515,000 after purchasing an additional 18,974 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Park-Ohio by 396.4% during the 4th quarter. Bank of America Corp DE now owns 20,740 shares of the industrial products company’s stock worth $637,000 after purchasing an additional 16,562 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Park-Ohio in the 2nd quarter worth approximately $478,000. 54.67% of the stock is currently owned by hedge funds and other institutional investors.

PKOH has been the subject of a number of analyst reports. TheStreet cut Park-Ohio from a “b-” rating to a “c+” rating in a research report on Monday, August 5th. BidaskClub raised Park-Ohio from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research lowered Park-Ohio from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. B. Riley lowered their price objective on Park-Ohio from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, ValuEngine lowered Park-Ohio from a “sell” rating to a “strong sell” rating in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Park-Ohio presently has a consensus rating of “Hold” and an average target price of $30.50.

Shares of PKOH stock traded up $0.53 on Friday, hitting $32.71. The company had a trading volume of 10,095 shares, compared to its average volume of 27,414. The firm has a market cap of $383.89 million, a P/E ratio of 7.64 and a beta of 2.36. The company has a 50-day moving average price of $28.45 and a 200-day moving average price of $32.02. The company has a quick ratio of 1.32, a current ratio of 2.37 and a debt-to-equity ratio of 1.89. Park-Ohio has a twelve month low of $25.74 and a twelve month high of $40.10.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings results on Monday, August 5th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.07. Park-Ohio had a return on equity of 16.77% and a net margin of 2.89%. The business had revenue of $415.30 million during the quarter, compared to analyst estimates of $438.60 million. Equities research analysts expect that Park-Ohio will post 4.44 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.53%. The ex-dividend date was Monday, August 12th. Park-Ohio’s dividend payout ratio (DPR) is presently 11.68%.

About Park-Ohio

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. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.

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