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. “
Other analysts also recently issued reports about the stock. TheStreet raised shares of Park-Ohio Holdings Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 2nd. Sidoti assumed coverage on shares of Park-Ohio Holdings Corp. in a report on Tuesday, August 30th. They set a “buy” rating and a $50.00 price target on the stock.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 33.93 on Wednesday. The company has a market capitalization of $412.01 million, a P/E ratio of 11.41 and a beta of 3.02. The firm has a 50-day moving average of $36.03 and a 200-day moving average of $33.19. Park-Ohio Holdings Corp. has a one year low of $23.21 and a one year high of $44.79.
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, topping the Zacks’ consensus estimate of $0.73 by $0.03. Park-Ohio Holdings Corp. had a net margin of 2.67% and a return on equity of 19.45%. Analysts forecast that Park-Ohio Holdings Corp. will post $3.11 earnings per share for the current year.
In other Park-Ohio Holdings Corp. news, Director James W. Wert sold 3,000 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $34.69, for a total transaction of $104,070.00. Following the completion of the transaction, the director now directly owns 91,060 shares in the company, valued at $3,158,871.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick W. Fogarty sold 2,300 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $34.04, for a total transaction of $78,292.00. Following the transaction, the director now owns 65,202 shares of the company’s stock, valued at $2,219,476.08. The disclosure for this sale can be found here. Company insiders own 32.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its position in 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 worth $25,574,000 after buying an additional 11,100 shares in the last quarter. Private Management Group Inc. boosted its stake 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 worth $18,285,000 after buying an additional 37,144 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 worth $16,085,000 after buying an additional 19,724 shares during the period. LSV Asset Management boosted its stake 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 worth $10,878,000 after buying an additional 83,771 shares during the period. Finally, Northpointe Capital LLC acquired a new stake in shares of Park-Ohio Holdings Corp. during the second quarter worth 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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