Park-Ohio Holdings Corp. (NASDAQ:PKOH) Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC lifted its position in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 41.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 158,189 shares of the industrial products company’s stock after acquiring an additional 46,660 shares during the period. First Eagle Investment Management LLC owned 1.21% of Park-Ohio worth $4,096,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in Park-Ohio by 1,986.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 1,510 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Park-Ohio by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock valued at $233,000 after buying an additional 449 shares during the period. Empowered Funds LLC grew its stake in Park-Ohio by 7.8% in the first quarter. Empowered Funds LLC now owns 9,618 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 700 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Park-Ohio by 23.1% in the 1st quarter. BNP Paribas Financial Markets now owns 10,831 shares of the industrial products company’s stock valued at $289,000 after buying an additional 2,036 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Park-Ohio by 27.7% during the second quarter. Rhumbline Advisers now owns 12,290 shares of the industrial products company’s stock valued at $318,000 after acquiring an additional 2,665 shares in the last quarter. 51.38% of the stock is currently owned by institutional investors and hedge funds.

Park-Ohio Price Performance

Shares of NASDAQ:PKOH opened at $28.30 on Friday. The stock has a market capitalization of $369.91 million, a P/E ratio of 31.10 and a beta of 1.16. The business has a 50-day moving average of $28.92 and a two-hundred day moving average of $26.58. Park-Ohio Holdings Corp. has a fifty-two week low of $19.18 and a fifty-two week high of $31.95. The company has a debt-to-equity ratio of 2.22, a current ratio of 2.42 and a quick ratio of 1.22.

Park-Ohio (NASDAQ:PKOH) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.08. Park-Ohio had a return on equity of 14.72% and a net margin of 1.09%. The firm had revenue of $432.60 million during the quarter. During the same period in the previous year, the company earned $0.83 EPS.

Park-Ohio Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were issued a $0.125 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.50 annualized dividend and a yield of 1.77%. Park-Ohio’s dividend payout ratio (DPR) is presently 54.95%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Park-Ohio from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th.

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.