Park-Ohio Holdings Corp. (PKOH) Lowered to “Sell” at Zacks Investment Research
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. “
Several other analysts also recently weighed in on 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 began coverage on shares of Park-Ohio Holdings Corp. in a report on Tuesday, August 30th. They issued a buy rating and a $50.00 target price on the stock.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 34.77 on Wednesday. The company’s 50-day moving average is $36.03 and its 200 day moving average is $33.19. The stock has a market cap of $422.21 million, a PE ratio of 11.69 and a beta of 3.02. Park-Ohio Holdings Corp. has a 52 week low of $23.21 and a 52 week high of $44.79.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its earnings results on Tuesday, August 9th. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ 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 fiscal year.
In other news, COO Matthew V. Crawford sold 7,492 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $33.63, for a total value of $251,955.96. Following the completion of the transaction, the chief operating officer now owns 981,812 shares of the company’s stock, valued at $33,018,337.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James W. Wert sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $36.05, for a total transaction of $36,050.00. Following the completion of the transaction, the director now directly owns 82,500 shares of the company’s stock, valued at approximately $2,974,125. 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 stock. Thomson Horstmann & Bryant Inc. raised its position in Park-Ohio Holdings Corp. by 100.8% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 200,586 shares of the company’s stock worth $5,672,000 after buying an additional 100,712 shares in the last quarter. Shell Asset Management Co. purchased a new position in Park-Ohio Holdings Corp. during the second quarter worth $905,000. Bank of Montreal Can purchased a new position in Park-Ohio Holdings Corp. during the second quarter worth $614,000. WealthTrust Axiom LLC purchased a new position in Park-Ohio Holdings Corp. during the second quarter worth $261,000. Finally, Monarch Partners Asset Management LLC purchased a new position in Park-Ohio Holdings Corp. during the second quarter worth $277,000. 54.35% of the stock is 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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