Park-Ohio Holdings Corp. (PKOH) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a buy rating to a hold rating in a report released 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 topic of a number of other reports. TheStreet raised Park-Ohio Holdings Corp. from a c rating to a b- rating in a research note on Monday, May 8th. BidaskClub cut Park-Ohio Holdings Corp. from a hold rating to a sell rating in a research note on Saturday, August 5th. Finally, FBR & Co lifted their price target on 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. One investment analyst has rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $43.67.
Shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) traded up 1.13% during mid-day trading on Wednesday, reaching $40.30. The company had a trading volume of 14,110 shares. The stock has a 50 day moving average price of $39.82 and a 200 day moving average price of $38.61. Park-Ohio Holdings Corp. has a 12-month low of $30.01 and a 12-month high of $47.00. The firm has a market capitalization of $491.62 million, a PE ratio of 15.25 and a beta of 3.42.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.02. The business had revenue of $350.90 million for the quarter, compared to analysts’ expectations of $355.83 million. Park-Ohio Holdings Corp. had a return on equity of 16.90% and a net margin of 2.50%. On average, equities analysts forecast that Park-Ohio Holdings Corp. will post $3.24 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.50 dividend on an annualized basis and a yield of 1.24%. Park-Ohio Holdings Corp.’s dividend payout ratio (DPR) is currently 18.80%.
In other Park-Ohio Holdings Corp. news, Director James W. Wert sold 2,500 shares of Park-Ohio Holdings Corp. stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $40.80, for a total value of $102,000.00. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $77,485.50. Following the completion of the transaction, 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 owned by insiders.
Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position 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 period. American International Group Inc. boosted its position in 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 valued at $188,000 after buying an additional 346 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in Park-Ohio Holdings Corp. during the second quarter valued at about $197,000. Wedge Capital Management L L P NC boosted 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 valued at $200,000 after buying an additional 202 shares during the period. Finally, Oxford Asset Management acquired a new position in Park-Ohio Holdings Corp. during the first quarter valued at about $202,000. 55.12% 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.
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