Trading Report: The Park-Ohio Holdings Corp. (PKOH) gets Sell status at Zacks Investment Research

The Park-Ohio Holdings Corp. (PKOH) gets Sell status at Zacks Investment Research

Zacks Investment Research lowered shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) from a hold rating to a sell rating in a research note released on Wednesday morning.

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. “

Other equities analysts have also recently issued reports about the stock. TheStreet raised shares of Park-Ohio Holdings Corp. from a hold rating to a buy rating in a research note on Friday, September 2nd. Sidoti began coverage on shares of Park-Ohio Holdings Corp. in a research note on Tuesday, August 30th. They set a buy rating and a $50.00 price target on the stock.

Park-Ohio Holdings Corp. (NASDAQ:PKOH) opened at 33.87 on Wednesday. The stock has a 50 day moving average of $35.96 and a 200 day moving average of $32.94. The stock has a market capitalization of $411.28 million, a P/E ratio of 11.39 and a beta of 3.02. Park-Ohio Holdings Corp. has a 1-year low of $23.21 and a 1-year high of $44.79.

Park-Ohio Holdings Corp. (NASDAQ:PKOH) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ 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%. On average, analysts expect that Park-Ohio Holdings Corp. will post $3.11 earnings per share for the current year.

In related news, Director James W. Wert sold 2,000 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $36.26, for a total value of $72,520.00. Following the sale, the director now directly owns 87,060 shares of the company’s stock, valued at approximately $3,156,795.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James W. Wert sold 1,000 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the sale, the director now directly owns 88,060 shares in the company, valued at $3,082,100. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. BlackRock Advisors LLC boosted its stake in shares of Park-Ohio Holdings Corp. by 1.1% in the second quarter. BlackRock Advisors LLC now owns 3,914 shares of the company’s stock worth $111,000 after buying an additional 41 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Park-Ohio Holdings Corp. by 1.2% in the second quarter. Janney Montgomery Scott LLC now owns 8,750 shares of the company’s stock worth $322,000 after buying an additional 100 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Park-Ohio Holdings Corp. by 0.3% in the second quarter. JPMorgan Chase & Co. now owns 34,000 shares of the company’s stock worth $962,000 after buying an additional 100 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Park-Ohio Holdings Corp. by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 59,964 shares of the company’s stock worth $1,696,000 after buying an additional 262 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its stake in shares of Park-Ohio Holdings Corp. by 3.4% in the second quarter. Teachers Advisors Inc. now owns 13,261 shares of the company’s stock worth $375,000 after buying an additional 434 shares during the last quarter. 54.81% of the stock is currently owned by hedge funds and other institutional investors.

Park-Ohio Holdings Corp. Company Profile

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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