Park-Ohio Holdings Corp. (PKOH) Lowered to “Sell” at Zacks Investment Research
Park-Ohio Holdings Corp. (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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 analysts also recently issued reports on the company. Sidoti started coverage on Park-Ohio Holdings Corp. in a report on Tuesday, August 30th. They issued a “buy” rating and a $50.00 price target for the company. TheStreet upgraded Park-Ohio Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 2nd.
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Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 34.22 on Wednesday. The firm has a market capitalization of $415.53 million, a price-to-earnings ratio of 11.51 and a beta of 3.02. Park-Ohio Holdings Corp. has a one year low of $23.21 and a one year high of $44.79. The stock has a 50 day moving average price of $35.99 and a 200-day moving average price of $33.18.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. Park-Ohio Holdings Corp. had a return on equity of 19.45% and a net margin of 2.67%. On average, analysts predict that Park-Ohio Holdings Corp. will post $3.11 earnings per share for the current fiscal year.
In other news, COO Matthew V. Crawford sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $34.64, for a total transaction of $866,000.00. Following the completion of the sale, the chief operating officer now directly owns 1,017,647 shares in the company, valued at $35,251,292.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James W. Wert sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $35.00, for a total value of $35,000.00. Following the sale, the director now owns 88,060 shares of the company’s stock, valued at $3,082,100. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its position in shares of Park-Ohio Holdings Corp. by 1.2% in the second quarter. Gamco Investors INC. ET AL now owns 904,301 shares of the company’s stock valued at $25,574,000 after buying an additional 11,100 shares during the last quarter. Private Management Group Inc. boosted its position in shares of Park-Ohio Holdings Corp. by 6.1% in the second quarter. Private Management Group Inc. now owns 646,554 shares of the company’s stock valued at $18,285,000 after buying an additional 37,144 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Park-Ohio Holdings Corp. by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 568,788 shares of the company’s stock valued at $16,085,000 after buying an additional 19,724 shares during the last quarter. LSV Asset Management boosted its position in shares of Park-Ohio Holdings Corp. by 27.8% in the second quarter. LSV Asset Management now owns 384,681 shares of the company’s stock valued at $10,878,000 after buying an additional 83,771 shares during the last quarter. Finally, Northpointe Capital LLC bought a new position in shares of Park-Ohio Holdings Corp. during the second quarter valued at approximately $5,984,000. Institutional investors own 54.35% of the company’s stock.
About Park-Ohio Holdings Corp.
Park-Ohio Holdings Corp. operates through the subsidiaries owned by its direct subsidiary, Park-Ohio Industries, Inc (Park-Ohio). Park-Ohio is an industrial supply chain logistics and diversified manufacturing business operating in three segments: Supply Technologies, Assembly Components and Engineered Products.
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