Park-Ohio (PKOH) Lowered to “Hold” at Zacks Investment Research

Park-Ohio (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “

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

Shares of Park-Ohio (NASDAQ:PKOH) traded down $0.86 during mid-day trading on Thursday, hitting $40.84. The stock had a trading volume of 10,356 shares, compared to its average volume of 19,758. The firm has a market cap of $516.26, a PE ratio of 17.31 and a beta of 3.23. The company has a current ratio of 2.36, a quick ratio of 1.39 and a debt-to-equity ratio of 1.79. Park-Ohio has a fifty-two week low of $34.25 and a fifty-two week high of $47.90.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.05). The company had revenue of $352.20 million during the quarter, compared to analyst estimates of $345.17 million. Park-Ohio had a net margin of 2.16% and a return on equity of 14.79%. research analysts expect that Park-Ohio will post 3.18 EPS for the current year.

In related news, Director Patrick W. Fogarty sold 13,500 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $47.05, for a total value of $635,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew V. Crawford sold 4,122 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $44.38, for a total value of $182,934.36. Following the completion of the transaction, the chief operating officer now directly owns 997,433 shares of the company’s stock, valued at approximately $44,266,076.54. The disclosure for this sale can be found here. In the last three months, insiders sold 21,715 shares of company stock valued at $1,008,612. Insiders own 31.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its holdings in Park-Ohio by 8.1% in the 4th quarter. California Public Employees Retirement System now owns 42,672 shares of the industrial products company’s stock worth $1,961,000 after purchasing an additional 3,202 shares during the period. Alambic Investment Management L.P. raised its holdings in Park-Ohio by 12.2% in the 4th quarter. Alambic Investment Management L.P. now owns 22,116 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 2,400 shares during the period. Algert Global LLC raised its holdings in Park-Ohio by 12.4% in the 4th quarter. Algert Global LLC now owns 49,838 shares of the industrial products company’s stock worth $2,290,000 after purchasing an additional 5,490 shares during the period. Deprince Race & Zollo Inc. raised its holdings in 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, Foundry Partners LLC raised its holdings in Park-Ohio by 2.7% in the 4th quarter. Foundry Partners LLC now owns 81,379 shares of the industrial products company’s stock worth $3,739,000 after purchasing an additional 2,136 shares during the period. 55.55% of the stock is owned by institutional investors.

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Park-Ohio Company Profile

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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