Zacks Investment Research Lowers Park-Ohio (NASDAQ:PKOH) to Strong Sell

Zacks Investment Research lowered shares of Park-Ohio (NASDAQ:PKOH) from a hold rating to a strong sell rating in a research report sent to investors on Saturday morning, Zacks.com reports.

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 analysts also recently issued reports about the stock. ValuEngine downgraded shares of Park-Ohio from a sell rating to a strong sell rating in a report on Monday, November 4th. B. Riley cut their target price on shares of Park-Ohio from $40.00 to $30.00 and set a neutral rating for the company in a research note on Monday, August 12th. TheStreet cut shares of Park-Ohio from a b- rating to a c+ rating in a research note on Monday, August 5th. Finally, BidaskClub upgraded shares of Park-Ohio from a sell rating to a hold rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Park-Ohio has an average rating of Hold and a consensus target price of $30.50.

Shares of NASDAQ PKOH traded up $0.50 during trading hours on Friday, hitting $33.36. 1,892 shares of the stock were exchanged, compared to its average volume of 34,349. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.34 and a quick ratio of 1.32. The company’s 50 day moving average is $30.11 and its 200 day moving average is $31.08. The firm has a market capitalization of $411.02 million, a P/E ratio of 7.79 and a beta of 2.31. Park-Ohio has a one year low of $25.74 and a one year high of $38.77.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.13). The firm had revenue of $403.40 million for the quarter, compared to the consensus estimate of $430.20 million. Park-Ohio had a return on equity of 16.27% and a net margin of 2.78%. Research analysts anticipate that Park-Ohio will post 4.13 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, November 12th. Park-Ohio’s dividend payout ratio is 11.68%.

In other news, CEO Matthew V. Crawford sold 5,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $33.09, for a total value of $165,450.00. Following the completion of the transaction, the chief executive officer now owns 999,936 shares in the company, valued at approximately $33,087,882.24. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 31.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in PKOH. BlackRock Inc. increased its position in shares of Park-Ohio by 5.6% during the 2nd quarter. BlackRock Inc. now owns 625,903 shares of the industrial products company’s stock worth $20,397,000 after purchasing an additional 33,110 shares in the last quarter. Morgan Stanley grew its holdings in Park-Ohio by 153.7% during the 2nd quarter. Morgan Stanley now owns 36,590 shares of the industrial products company’s stock worth $1,192,000 after acquiring an additional 22,167 shares during the last quarter. Denali Advisors LLC grew its holdings in Park-Ohio by 144.3% during the 3rd quarter. Denali Advisors LLC now owns 31,125 shares of the industrial products company’s stock worth $929,000 after acquiring an additional 18,382 shares during the last quarter. Foundry Partners LLC grew its holdings in Park-Ohio by 11.9% during the 3rd quarter. Foundry Partners LLC now owns 146,180 shares of the industrial products company’s stock worth $4,365,000 after acquiring an additional 15,499 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Park-Ohio by 2.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 760,575 shares of the industrial products company’s stock worth $22,711,000 after acquiring an additional 15,100 shares during the last quarter. Institutional investors and hedge funds own 54.76% of the company’s stock.

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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