Park-Ohio Holdings Corp. (NASDAQ:PKOH) to Issue Quarterly Dividend of $0.13

Park-Ohio Holdings Corp. (NASDAQ:PKOH) announced a quarterly dividend on Friday, July 19th, Zacks reports. Stockholders of record on Friday, August 2nd will be given a dividend of 0.125 per share by the industrial products company on Friday, August 16th. This represents a $0.50 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, August 2nd.

Park-Ohio has increased its dividend by an average of 26.0% per year over the last three years. Park-Ohio has a payout ratio of 13.1% meaning its dividend is sufficiently covered by earnings.

Park-Ohio Stock Up 2.1 %

Shares of PKOH stock opened at $31.22 on Thursday. The company has a 50 day simple moving average of $26.22 and a two-hundred day simple moving average of $25.68. The stock has a market cap of $408.05 million, a P/E ratio of 34.31 and a beta of 1.18. Park-Ohio has a 12 month low of $17.41 and a 12 month high of $31.95. The company has a current ratio of 2.25, a quick ratio of 1.16 and a debt-to-equity ratio of 2.21.

Park-Ohio (NASDAQ:PKOH) last announced its earnings results on Monday, April 29th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. Park-Ohio had a return on equity of 13.93% and a net margin of 0.70%. The company had revenue of $417.60 million for the quarter, compared to analysts’ expectations of $439.00 million. During the same period last year, the firm earned $0.72 EPS.

Insider Buying and Selling

In related news, Director Edward F. Crawford purchased 10,000 shares of Park-Ohio stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $24.68 per share, for a total transaction of $246,800.00. Following the acquisition, the director now owns 761,273 shares in the company, valued at approximately $18,788,217.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Park-Ohio news, CEO Matthew V. Crawford bought 5,091 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $24.19 per share, with a total value of $123,151.29. Following the completion of the acquisition, the chief executive officer now owns 869,904 shares in the company, valued at approximately $21,042,977.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward F. Crawford acquired 10,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $24.68 per share, with a total value of $246,800.00. Following the transaction, the director now directly owns 761,273 shares of the company’s stock, valued at $18,788,217.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 20,802 shares of company stock worth $507,252. 33.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Park-Ohio from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th.

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. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.