Schwab Charles Investment Management Inc. Acquires 3,290 Shares of Park-Ohio Holdings Corp. (PKOH)

Schwab Charles Investment Management Inc. grew its holdings in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 7.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,160 shares of the industrial products company’s stock after buying an additional 3,290 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.36% of Park-Ohio worth $1,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Park-Ohio by 17.6% during the 2nd quarter. First Trust Advisors LP now owns 9,907 shares of the industrial products company’s stock valued at $370,000 after buying an additional 1,482 shares in the last quarter. Strs Ohio raised its position in Park-Ohio by 9.8% in the 2nd quarter. Strs Ohio now owns 18,000 shares of the industrial products company’s stock worth $671,000 after purchasing an additional 1,600 shares during the period. GSA Capital Partners LLP raised its position in Park-Ohio by 21.2% in the 1st quarter. GSA Capital Partners LLP now owns 20,459 shares of the industrial products company’s stock worth $795,000 after purchasing an additional 3,574 shares during the period. Victory Capital Management Inc. raised its position in Park-Ohio by 15.1% in the 2nd quarter. Victory Capital Management Inc. now owns 26,700 shares of the industrial products company’s stock worth $996,000 after purchasing an additional 3,500 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Park-Ohio by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 30,534 shares of the industrial products company’s stock worth $1,139,000 after purchasing an additional 4,182 shares during the period. Hedge funds and other institutional investors own 53.93% of the company’s stock.

Park-Ohio stock opened at $35.67 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.54 and a current ratio of 2.55. Park-Ohio Holdings Corp. has a 1-year low of $34.95 and a 1-year high of $47.90. The stock has a market capitalization of $491.93 million, a P/E ratio of 11.15 and a beta of 2.85.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Thursday, August 9th. The industrial products company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.14. Park-Ohio had a net margin of 2.60% and a return on equity of 15.68%. The company had revenue of $432.20 million for the quarter, compared to analyst estimates of $397.83 million. Sell-side analysts expect that Park-Ohio Holdings Corp. will post 3.89 EPS for the current fiscal year.

A number of analysts recently weighed in on PKOH shares. TheStreet raised shares of Park-Ohio from a “c+” rating to a “b-” rating in a research report on Friday, June 15th. Zacks Investment Research raised shares of Park-Ohio from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, August 14th. ValuEngine raised shares of Park-Ohio from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, BidaskClub raised shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 18th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.00.

In related news, insider Edward F. Crawford sold 48,186 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $40.59, for a total value of $1,955,869.74. Following the sale, the insider now directly owns 1,522,148 shares of the company’s stock, valued at approximately $61,783,987.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.20% of the company’s stock.

Park-Ohio Profile

Park-Ohio Holdings Corp., through its subsidiaries, provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Asia, Europe, Canada, Mexico, and internationally. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.

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

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