Park-Ohio Holdings Corp. (NASDAQ:PKOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

PKOH has been the subject of a number of other reports. TheStreet raised shares of Park-Ohio Holdings Corp. from a “c” rating to a “b-” rating in a research note on Monday, May 8th. BidaskClub raised shares of Park-Ohio Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, FBR & Co upped their target price on shares of Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the stock a “mkt perform” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Park-Ohio Holdings Corp. currently has an average rating of “Buy” and an average price target of $45.50.

Park-Ohio Holdings Corp. (NASDAQ PKOH) opened at 39.30 on Wednesday. Park-Ohio Holdings Corp. has a 1-year low of $30.01 and a 1-year high of $47.00. The company has a 50-day moving average price of $39.62 and a 200 day moving average price of $38.76. The firm has a market capitalization of $479.42 million, a price-to-earnings ratio of 14.88 and a beta of 3.47.

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

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In other news, Director James W. Wert sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total value of $102,000.00. Following the sale, the director now directly owns 81,695 shares of the company’s stock, valued at approximately $3,333,156. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick V. Auletta sold 2,010 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $38.55, for a total transaction of $77,485.50. Following the completion of the sale, the director now directly owns 18,645 shares in the company, valued at $718,764.75. The disclosure for this sale can be found here. 31.00% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of PKOH. Russell Investments Group Ltd. boosted its stake in shares of Park-Ohio Holdings Corp. by 31.7% in the first quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock worth $180,000 after buying an additional 1,200 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Park-Ohio Holdings Corp. during the second quarter worth about $197,000. American International Group Inc. boosted its stake in shares of Park-Ohio Holdings Corp. by 7.1% in 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 during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of 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. Finally, Oxford Asset Management purchased a new stake in shares of Park-Ohio Holdings Corp. during the first quarter worth about $202,000. 55.12% of the stock is currently owned by institutional investors.

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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