Gamco Investors INC. has increased its holdings in Park-Ohio Holdings Corp. (NASDAQ: PKOH) by 3.0% during the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The investment firm now owns 1,115,331 shares following the acquisition of an additional 32,061 shares during the quarter, representing approximately 7.75% of Park-Ohio’s total stock, valued at around $23.69 million.
Several other hedge funds have also made significant adjustments to their positions in Park-Ohio. Teton Advisors LLC established a new stake in the company worth $3.31 million during the same quarter. First Eagle Investment Management LLC increased its holdings by 7.3%, now owning 414,070 shares worth $8.80 million after purchasing an additional 28,045 shares. Additionally, Victory Capital Management Inc. and Vanguard Group Inc. both boosted their stakes, with Victory Capital increasing its share by 26.5% and Vanguard by 0.8%.
As a whole, hedge funds and institutional investors now hold approximately 51.38% of Park-Ohio’s stock, indicating a strong institutional interest in the company.
Analyst Ratings and Market Performance
Recent analyst ratings for Park-Ohio have shifted positively. KeyCorp upgraded the stock from a “sector weight” rating to an “overweight” rating, setting a target price of $37.00. Wall Street Zen also raised its rating from “hold” to “buy.” Currently, one research analyst has issued a Buy rating, while two others have maintained a Hold rating, resulting in a consensus rating of “Hold” and an average price target of $37.00, according to MarketBeat.
As of the latest trading session, shares of Park-Ohio opened at $25.59. The company boasts a market capitalization of $368.50 million, a price-to-earnings (P/E) ratio of 14.96, and a beta of 1.11. Its 50-day moving average stands at $24.28, while the 200-day moving average is at $21.96. Park-Ohio’s stock has experienced a 52-week low of $15.52 and a high of $29.50.
Recently, Park-Ohio reported its quarterly earnings, revealing an earnings per share (EPS) of $0.65, which fell short of analysts’ expectations of $0.74 by $0.09. The company reported revenues of $395 million, below the consensus estimate of $402.90 million. The company has set its guidance for fiscal year 2026 at an EPS range of $2.90 to $3.20.
Dividend Announcement
In addition to its earnings report, Park-Ohio recently announced a quarterly dividend of $0.125 per share, which was paid on February 20, 2026, to investors on record as of February 6. This results in an annualized dividend of $0.50 and a yield of 2.0%. The company’s current dividend payout ratio stands at 29.76%, indicating a sustainable dividend strategy amidst its ongoing financial activities.
Park-Ohio Holdings Corp. operates as a diversified industrial company, providing engineered products and distribution services to various markets. The company’s two primary operating segments—Engineered Solutions and Supply Chain Solutions—focus on delivering metal components and assemblies, catering to sectors such as energy, transportation, and industrial applications.
Those interested in tracking the latest investment activities of hedge funds in Park-Ohio are encouraged to visit HoldingsChannel.com for updated 13F filings and insider trades.
