BidaskClub upgraded shares of Park-Ohio (NASDAQ:PKOH) from a strong sell rating to a sell rating in a report issued on Thursday, BidAskClub reports.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Park-Ohio from a buy rating to a hold rating in a research report on Saturday, August 17th. B. Riley cut their target price on Park-Ohio from $40.00 to $30.00 and set a neutral rating on the stock in a research report on Monday, August 12th. ValuEngine cut Park-Ohio from a sell rating to a strong sell rating in a research report on Friday, June 7th. Finally, TheStreet cut Park-Ohio from a b- rating to a c+ rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $30.50.

PKOH opened at $32.71 on Thursday. The business’s 50-day simple moving average is $28.50 and its 200-day simple moving average is $32.01. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.32 and a current ratio of 2.37. Park-Ohio has a one year low of $25.74 and a one year high of $40.10. The stock has a market capitalization of $401.61 million, a P/E ratio of 7.64 and a beta of 2.36.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Monday, August 5th. The industrial products company reported $1.07 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.07. Park-Ohio had a return on equity of 16.77% and a net margin of 2.89%. The business had revenue of $415.30 million for the quarter, compared to analysts’ expectations of $438.60 million. On average, equities research analysts forecast that Park-Ohio will post 4.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Monday, August 12th. Park-Ohio’s dividend payout ratio (DPR) is currently 11.68%.

In related news, Director Ronna Romney sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the transaction, the director now owns 18,909 shares of the company’s stock, valued at $494,281.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James W. Wert purchased 2,500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $27.62 per share, for a total transaction of $69,050.00. Following the acquisition, the director now owns 80,320 shares of the company’s stock, valued at $2,218,438.40. The disclosure for this purchase can be found here. 31.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of Park-Ohio by 45.5% during the second quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock worth $38,000 after buying an additional 364 shares during the last quarter. Uniplan Investment Counsel Inc. grew its holdings in shares of Park-Ohio by 14.8% during the second quarter. Uniplan Investment Counsel Inc. now owns 87,947 shares of the industrial products company’s stock worth $2,866,000 after buying an additional 11,323 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Park-Ohio by 23.3% during the second quarter. Victory Capital Management Inc. now owns 36,301 shares of the industrial products company’s stock worth $1,183,000 after buying an additional 6,869 shares during the last quarter. Morgan Stanley grew its holdings in shares of Park-Ohio by 153.7% during the second quarter. Morgan Stanley now owns 36,590 shares of the industrial products company’s stock worth $1,192,000 after buying an additional 22,167 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Park-Ohio by 10.3% during the second quarter. Bank of America Corp DE now owns 22,466 shares of the industrial products company’s stock worth $732,000 after buying an additional 2,097 shares during the last quarter. 54.67% of the stock is currently owned by hedge funds and other institutional investors.

About Park-Ohio

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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