Park-Ohio Holdings Corp. (PKOH) Stake Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. grew its stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 9.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,028 shares of the industrial products company’s stock after buying an additional 3,519 shares during the period. Schwab Charles Investment Management Inc. owned 0.32% of Park-Ohio worth $1,826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Park-Ohio by 0.7% during the 2nd quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock valued at $216,000 after buying an additional 37 shares during the period. Bank of New York Mellon Corp boosted its position in Park-Ohio by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,203 shares of the industrial products company’s stock worth $2,866,000 after purchasing an additional 404 shares during the period. The Manufacturers Life Insurance Company boosted its position in Park-Ohio by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 452 shares during the period. Teachers Advisors LLC boosted its position in Park-Ohio by 4.0% during the 2nd quarter. Teachers Advisors LLC now owns 15,695 shares of the industrial products company’s stock worth $598,000 after purchasing an additional 603 shares during the period. Finally, Martingale Asset Management L P boosted its position in Park-Ohio by 4.7% during the 2nd quarter. Martingale Asset Management L P now owns 28,715 shares of the industrial products company’s stock worth $1,095,000 after purchasing an additional 1,300 shares during the period. 55.55% of the stock is owned by institutional investors.

In other Park-Ohio news, COO Matthew V. Crawford sold 4,122 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 997,433 shares in the company, valued at approximately $44,266,076.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick W. Fogarty sold 13,500 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $47.05, for a total transaction of $635,175.00. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock worth $1,008,612 in the last quarter. 31.00% of the stock is currently owned by company insiders.

Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) traded up $0.15 during mid-day trading on Friday, reaching $40.20. 15,672 shares of the company’s stock were exchanged, compared to its average volume of 16,668. Park-Ohio Holdings Corp. has a 52-week low of $34.25 and a 52-week high of $47.90. The company has a debt-to-equity ratio of 1.79, a current ratio of 2.36 and a quick ratio of 1.39. The firm has a market cap of $503.75, a price-to-earnings ratio of 13.27 and a beta of 3.23.

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

PKOH has been the subject of a number of research reports. BidaskClub cut shares of Park-Ohio from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Zacks Investment Research cut shares of Park-Ohio from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. 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 reaffirmed 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 presently has a consensus rating of “Hold” and an average price target of $43.00.

WARNING: This piece was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://ledgergazette.com/2018/02/12/schwab-charles-investment-management-inc-purchases-3519-shares-of-park-ohio-holdings-corp-pkoh.html.

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.

Institutional Ownership by Quarter for Park-Ohio (NASDAQ:PKOH)

Receive News & Ratings for Park-Ohio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park-Ohio and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply