Short Interest in Park-Ohio Holdings Corp. (NASDAQ:PKOH) Rises By 44.8%

Park-Ohio Holdings Corp. (NASDAQ:PKOH) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 105,000 shares, an increase of 44.8% from the May 30th total of 72,500 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is currently 4.0 days.

In other Park-Ohio news, Director Patrick V. Auletta sold 2,300 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $31.33, for a total value of $72,059.00. Following the sale, the director now directly owns 17,125 shares of the company’s stock, valued at $536,526.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward F. Crawford purchased 12,532 shares of the stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $29.96 per share, for a total transaction of $375,458.72. Following the completion of the acquisition, the insider now owns 1,497,675 shares of the company’s stock, valued at approximately $44,870,343. The disclosure for this purchase can be found here. 31.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its position in shares of Park-Ohio by 4.4% during the third quarter. Morgan Stanley now owns 47,057 shares of the industrial products company’s stock valued at $1,805,000 after buying an additional 1,990 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Park-Ohio by 43.4% during the fourth quarter. Rhumbline Advisers now owns 13,132 shares of the industrial products company’s stock valued at $403,000 after buying an additional 3,973 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Park-Ohio by 11.1% during the fourth quarter. Prudential Financial Inc. now owns 9,959 shares of the industrial products company’s stock valued at $305,000 after buying an additional 992 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Park-Ohio by 17.5% during the fourth quarter. First Trust Advisors LP now owns 15,571 shares of the industrial products company’s stock valued at $478,000 after buying an additional 2,323 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Park-Ohio by 0.5% during the fourth quarter. California Public Employees Retirement System now owns 68,369 shares of the industrial products company’s stock valued at $2,098,000 after buying an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Shares of PKOH stock traded up $0.24 during mid-day trading on Friday, hitting $30.95. 16,414 shares of the stock were exchanged, compared to its average volume of 23,214. The stock’s fifty day moving average price is $31.94. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.26 and a current ratio of 2.27. Park-Ohio has a 52-week low of $28.01 and a 52-week high of $43.15. The company has a market capitalization of $387.93 million, a P/E ratio of 7.23 and a beta of 2.28.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Monday, May 6th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.03. Park-Ohio had a net margin of 3.29% and a return on equity of 17.19%. The business had revenue of $420.10 million for the quarter, compared to analyst estimates of $420.00 million. On average, equities research analysts anticipate that Park-Ohio will post 4.43 EPS for the current fiscal year.

Several research firms have recently issued reports on PKOH. ValuEngine raised shares of YY from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. TheStreet lowered shares of Stitch Fix from a “c-” rating to a “d+” rating in a research note on Monday, May 6th. Finally, BidaskClub raised shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $39.00.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, and internationally. The company's Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, including valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products.

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