Zacks Investment Research upgraded shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a hold rating to a buy rating in a research note issued to investors on Friday. They currently have $44.00 price objective on the industrial products company’s stock.

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 equities research analysts have also weighed in on the company. FBR & Co raised their target price on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the stock a mkt perform rating in a research report on Wednesday. BidaskClub lowered Park-Ohio Holdings Corp. from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, TheStreet raised Park-Ohio Holdings Corp. from a c rating to a b- rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Park-Ohio Holdings Corp. presently has a consensus rating of Buy and a consensus price target of $45.25.

Shares of Park-Ohio Holdings Corp. (PKOH) traded up 0.77% during trading on Friday, reaching $39.15. 27,035 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $39.08 and a 200 day moving average price of $39.07. The company has a market capitalization of $477.59 million, a P/E ratio of 14.82 and a beta of 3.47. Park-Ohio Holdings Corp. has a 12-month low of $30.01 and a 12-month high of $47.00.

Park-Ohio Holdings Corp. (NASDAQ:PKOH) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. The business had revenue of $350.90 million for the quarter, compared to analyst estimates of $355.83 million. Equities analysts expect that Park-Ohio Holdings Corp. will post $3.24 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Park-Ohio Holdings Corp. (PKOH) Upgraded to Buy by Zacks Investment Research” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/08/13/park-ohio-holdings-corp-pkoh-upgraded-to-buy-by-zacks-investment-research.html.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Wednesday, August 9th. Park-Ohio Holdings Corp.’s dividend payout ratio (DPR) is 18.80%.

In other Park-Ohio Holdings Corp. news, Director Patrick V. Auletta sold 2,010 shares of Park-Ohio Holdings Corp. stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $38.55, for a total transaction of $77,485.50. Following the transaction, the director now owns 18,645 shares of the company’s stock, valued at $718,764.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 31.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKOH. Oxford Asset Management bought a new position in Park-Ohio Holdings Corp. during the first quarter worth about $202,000. Teton Advisors Inc. raised its position in Park-Ohio Holdings Corp. by 1.1% in the first quarter. Teton Advisors Inc. now owns 171,400 shares of the industrial products company’s stock worth $6,162,000 after buying an additional 1,900 shares during the last quarter. New Amsterdam Partners LLC NY bought a new position in Park-Ohio Holdings Corp. during the first quarter worth about $2,107,000. Bank of New York Mellon Corp raised its position in Park-Ohio Holdings Corp. by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 74,799 shares of the industrial products company’s stock worth $2,689,000 after buying an additional 2,164 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in Park-Ohio Holdings Corp. by 3.8% in the first quarter. Wedge Capital Management L L P NC now owns 5,558 shares of the industrial products company’s stock worth $200,000 after buying an additional 202 shares during the last quarter. 55.89% of the stock is currently owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on Park-Ohio Holdings Corp. (PKOH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Park-Ohio Holdings Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park-Ohio Holdings Corp. and related stocks with our FREE daily email newsletter.