Zacks Investment Research cut shares of Park-Ohio (NASDAQ:PKOH) from a buy rating to a hold rating in a research note published on Thursday.

According to Zacks, “Park Ohio Holdings Corp. operates through two segments, Manufactured Products and Logistics, which serve a wide variety of industrial markets. Manufactured Products designs and manufactures a broad range of high quality products engineered for specific customer applications. The principal customers of Manufactured Products are original equipment manufacturers and end-users in the automotive, railroad, truck and aerospace industries. Logistics is a leading national supplier of fasteners (e.g., nuts, bolts and screws) and other industrial products. “

Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Park-Ohio from a buy rating to a hold rating in a research report on Thursday, December 7th. ValuEngine cut shares of Park-Ohio from a strong-buy rating to a buy rating in a research report on Thursday, November 9th. Finally, B. Riley reissued a neutral rating on shares of Park-Ohio in a research report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $43.00.

Shares of Park-Ohio (NASDAQ:PKOH) opened at $40.20 on Thursday. The stock has a market cap of $503.75, a PE ratio of 13.27 and a beta of 3.23. The company has a debt-to-equity ratio of 1.79, a current ratio of 2.36 and a quick ratio of 1.39. Park-Ohio has a 52-week low of $34.25 and a 52-week high of $47.90.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a $0.125 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.50 annualized dividend and a yield of 1.24%. Park-Ohio’s dividend payout ratio (DPR) is 21.19%.

In other news, COO Matthew V. Crawford sold 4,122 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $44.38, for a total value of $182,934.36. Following the completion of the sale, the chief operating officer now owns 997,433 shares of the company’s stock, valued at approximately $44,266,076.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert D. Vilsack sold 1,093 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $46.91, for a total transaction of $51,272.63. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $1,008,612 in the last ninety days. Corporate insiders own 31.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Park-Ohio by 6.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 762,438 shares of the industrial products company’s stock worth $34,767,000 after purchasing an additional 45,070 shares during the period. BlackRock Inc. lifted its position in shares of Park-Ohio by 0.4% in the 4th quarter. BlackRock Inc. now owns 497,594 shares of the industrial products company’s stock worth $22,865,000 after purchasing an additional 2,053 shares during the period. Vanguard Group Inc. lifted its position in shares of Park-Ohio by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock worth $14,506,000 after purchasing an additional 13,983 shares during the period. Deprince Race & Zollo Inc. lifted its position in shares of Park-Ohio by 8.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 187,699 shares of the industrial products company’s stock worth $8,625,000 after purchasing an additional 15,124 shares during the period. Finally, Northpointe Capital LLC lifted its position in shares of Park-Ohio by 42.6% in the 3rd quarter. Northpointe Capital LLC now owns 173,362 shares of the industrial products company’s stock worth $7,905,000 after purchasing an additional 51,782 shares during the period. 55.55% of the stock is owned by hedge funds and other institutional investors.

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About Park-Ohio

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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