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. “
Other research analysts have also recently issued reports about the stock. FBR & Co increased their price objective on shares of Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a mkt perform rating in a report on Wednesday, August 9th. BidaskClub cut shares of Park-Ohio Holdings Corp. from a hold rating to a sell rating in a report on Saturday, August 5th. Finally, ValuEngine cut shares of Park-Ohio Holdings Corp. from a strong-buy rating to a buy rating in a report on Monday, October 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Park-Ohio Holdings Corp. presently has an average rating of Hold and an average price target of $45.00.
Shares of Park-Ohio Holdings Corp. (PKOH) traded up 1.10% during midday trading on Wednesday, hitting $46.05. The stock had a trading volume of 21,975 shares. The firm has a 50 day moving average of $42.19 and a 200-day moving average of $39.13. The company has a market cap of $561.76 million, a P/E ratio of 17.43 and a beta of 3.46. Park-Ohio Holdings Corp. has a one year low of $30.01 and a one year high of $47.00.
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%. On average, analysts forecast that Park-Ohio Holdings Corp. will post $3.25 earnings per share for the current fiscal year.
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In related news, insider Robert D. Vilsack sold 7,436 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $45.02, for a total transaction of $334,768.72. Following the completion of the sale, the insider now directly owns 103,527 shares in the company, valued at $4,660,785.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Wert sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $40.80, for a total transaction of $102,000.00. Following the sale, the director now owns 81,695 shares of the company’s stock, valued at $3,333,156. 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. 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. Massachusetts Financial Services Co. MA boosted its holdings in Park-Ohio Holdings Corp. by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,904 shares of the industrial products company’s stock worth $751,000 after buying an additional 249 shares in the last quarter. American International Group Inc. boosted its holdings in Park-Ohio Holdings Corp. by 7.1% during the first quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock worth $188,000 after buying an additional 346 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Park-Ohio Holdings Corp. by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 75,203 shares of the industrial products company’s stock worth $2,866,000 after buying an additional 404 shares in the last quarter. Finally, 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. Hedge funds and other institutional investors own 55.12% of the company’s stock.
Park-Ohio Holdings Corp. Company Profile
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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