Park-Ohio Holdings Corp. (PKOH) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a buy rating to a hold rating in a report released on Friday.

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. “

A number of other research firms have also issued reports on PKOH. BidaskClub raised shares of Park-Ohio Holdings Corp. from a sell rating to a hold rating in a report on Wednesday, August 16th. FBR & Co upped their target price on shares of Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the stock a mkt perform rating in a report on Wednesday, August 9th. Finally, TheStreet raised shares of Park-Ohio Holdings Corp. from a c rating to a b- rating in a report on Monday, May 8th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $45.75.

Park-Ohio Holdings Corp. (NASDAQ PKOH) opened at 39.55 on Friday. The company has a market capitalization of $482.47 million, a P/E ratio of 14.97 and a beta of 3.47. The company has a 50-day moving average of $39.47 and a 200 day moving average of $38.82. Park-Ohio Holdings Corp. has a 12-month low of $30.01 and a 12-month high of $47.00.

Park-Ohio Holdings Corp. (NASDAQ:PKOH) last released its earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.02. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. The business had revenue of $350.90 million during the quarter, compared to analyst estimates of $355.83 million. Equities research analysts forecast that Park-Ohio Holdings Corp. will post $3.24 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, August 9th. Park-Ohio Holdings Corp.’s payout ratio is 18.80%.

In other news, Director James W. Wert sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total transaction of $102,000.00. Following the transaction, the director now owns 81,695 shares of the company’s stock, valued at approximately $3,333,156. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Patrick V. Auletta sold 2,010 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $38.55, for a total transaction of $77,485.50. Following the transaction, the director now directly owns 18,645 shares in the company, valued at approximately $718,764.75. The disclosure for this sale can be found here. 31.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. James Investment Research Inc. purchased a new position in shares of Park-Ohio Holdings Corp. during the first quarter valued at $2,230,000. Alambic Investment Management L.P. boosted its position in shares of Park-Ohio Holdings Corp. by 20.2% in the first quarter. Alambic Investment Management L.P. now owns 26,135 shares of the industrial products company’s stock valued at $940,000 after buying an additional 4,385 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Park-Ohio Holdings Corp. during the first quarter valued at $439,000. Strs Ohio boosted its position in shares of Park-Ohio Holdings Corp. by 51.3% in the first quarter. Strs Ohio now owns 18,000 shares of the industrial products company’s stock valued at $647,000 after buying an additional 6,100 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Park-Ohio Holdings Corp. by 36.9% in the first quarter. FMR LLC now owns 93,160 shares of the industrial products company’s stock valued at $3,349,000 after buying an additional 25,100 shares during the last quarter. 58.38% of the stock is currently owned by hedge funds and other institutional investors.

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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