Zacks Investment Research cut shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a buy rating to a hold rating in a research note released on Wednesday morning.
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. “
PKOH has been the subject of several other reports. ValuEngine upgraded shares of Park-Ohio Holdings Corp. from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. FBR & Co reiterated a hold rating on shares of Park-Ohio Holdings Corp. in a report on Thursday, October 5th. Finally, BidaskClub upgraded shares of Park-Ohio Holdings Corp. from a sell rating to a hold rating in a report on Wednesday, August 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $45.00.
Shares of Park-Ohio Holdings Corp. (PKOH) opened at 45.85 on Wednesday. The stock has a market cap of $559.32 million, a price-to-earnings ratio of 17.35 and a beta of 3.46. Park-Ohio Holdings Corp. has a 52 week low of $30.01 and a 52 week high of $47.00. The stock’s 50 day moving average price is $42.64 and its 200 day moving average price is $39.28.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $350.90 million during the quarter, compared to analysts’ expectations of $355.83 million. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. Equities research analysts anticipate that Park-Ohio Holdings Corp. will post $3.25 EPS for the current fiscal year.
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In related news, Director James W. Wert sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total transaction of $102,000.00. Following the completion of the sale, the director now directly owns 81,695 shares in the company, valued at $3,333,156. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert D. Vilsack sold 7,436 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $45.02, for a total transaction of $334,768.72. Following the sale, the insider now owns 103,527 shares of the company’s stock, valued at $4,660,785.54. The disclosure for this sale can be found here. Insiders have sold 39,650 shares of company stock valued at $1,647,828 over the last 90 days. 31.00% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Park-Ohio Holdings Corp. by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,473 shares of the industrial products company’s stock worth $285,000 after buying an additional 452 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in Park-Ohio Holdings Corp. during the second quarter worth approximately $197,000. Royal Bank of Canada boosted its holdings in Park-Ohio Holdings Corp. by 0.7% during the second quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock worth $216,000 after buying an additional 37 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Park-Ohio Holdings Corp. by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 717,368 shares of the industrial products company’s stock worth $27,332,000 after buying an additional 55,315 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Park-Ohio Holdings Corp. by 3.8% during the second quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock worth $14,506,000 after buying an additional 13,983 shares in the last quarter. Hedge funds and other institutional investors own 55.12% of the company’s stock.
About Park-Ohio Holdings Corp.
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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