Park-Ohio Holdings Corp. (PKOH) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a hold rating to a sell rating in a research note released on Tuesday.

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 analysts also recently issued reports on the company. KeyCorp lifted their price target on Park-Ohio Holdings Corp. from $45.00 to $50.00 and gave the stock an overweight rating in a report on Tuesday, November 29th. FBR & Co reissued a hold rating and issued a $33.00 target price on shares of Park-Ohio Holdings Corp. in a report on Friday, March 10th. Finally, TheStreet downgraded Park-Ohio Holdings Corp. from a b rating to a c rating in a research note on Wednesday, March 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Park-Ohio Holdings Corp. currently has an average rating of Hold and a consensus price target of $45.75.

Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 35.35 on Tuesday. The stock has a market capitalization of $430.67 million, a PE ratio of 13.70 and a beta of 3.17. Park-Ohio Holdings Corp. has a 1-year low of $23.21 and a 1-year high of $47.00. The firm has a 50-day moving average price of $41.00 and a 200-day moving average price of $39.48.

Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its quarterly earnings data on Tuesday, March 7th. The company reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.08. Park-Ohio Holdings Corp. had a net margin of 2.80% and a return on equity of 19.44%. On average, equities research analysts forecast that Park-Ohio Holdings Corp. will post $3.23 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Monday, February 13th. Park-Ohio Holdings Corp.’s dividend payout ratio is presently 16.67%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Foundry Partners LLC purchased a new position in shares of Park-Ohio Holdings Corp. during the third quarter valued at $2,114,000. Monarch Partners Asset Management LLC increased its stake in shares of Park-Ohio Holdings Corp. by 45.8% in the third quarter. Monarch Partners Asset Management LLC now owns 14,270 shares of the company’s stock valued at $520,000 after buying an additional 4,480 shares in the last quarter. Northpointe Capital LLC increased its stake in shares of Park-Ohio Holdings Corp. by 20.6% in the third quarter. Northpointe Capital LLC now owns 255,080 shares of the company’s stock valued at $9,298,000 after buying an additional 43,493 shares in the last quarter. Alambic Investment Management L.P. increased its stake in shares of Park-Ohio Holdings Corp. by 15.2% in the third quarter. Alambic Investment Management L.P. now owns 14,000 shares of the company’s stock valued at $510,000 after buying an additional 1,850 shares in the last quarter. Finally, WealthTrust Axiom LLC increased its stake in shares of Park-Ohio Holdings Corp. by 4.3% in the third quarter. WealthTrust Axiom LLC now owns 9,650 shares of the company’s stock valued at $351,000 after buying an additional 400 shares in the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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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