Park-Ohio (NASDAQ:PKOH) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Park-Ohio (NASDAQ:PKOH) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks reports.

A number of other brokerages have also commented on PKOH. Wall Street Zen upgraded Park-Ohio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 13th. KeyCorp lifted their price target on shares of Park-Ohio from $45.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings raised shares of Park-Ohio from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Park-Ohio Stock Down 1.5%

PKOH stock opened at $43.50 on Tuesday. Park-Ohio has a twelve month low of $18.06 and a twelve month high of $53.30. The company has a quick ratio of 1.26, a current ratio of 2.40 and a debt-to-equity ratio of 1.66. The company has a market cap of $630.32 million, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. The business’s 50-day simple moving average is $46.04 and its 200 day simple moving average is $35.21.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.90 by $0.14. Park-Ohio had a return on equity of 10.55% and a net margin of 1.60%. The firm had revenue of $458.50 million during the quarter, compared to analysts’ expectations of $432.13 million. On average, research analysts anticipate that Park-Ohio will post 3.26 earnings per share for the current year.

Park-Ohio Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a $0.1250 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.1%. Park-Ohio’s dividend payout ratio is presently 26.60%.

Insider Transactions at Park-Ohio

In related news, insider Robert Vilsack sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $47.44, for a total transaction of $426,960.00. Following the completion of the transaction, the insider owned 167,836 shares in the company, valued at $7,962,139.84. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Howard Hanna, IV sold 5,330 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $45.05, for a total value of $240,116.50. Following the completion of the sale, the director directly owned 18,122 shares in the company, valued at approximately $816,396.10. This represents a 22.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 52,330 shares of company stock valued at $2,438,390. Corporate insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in shares of Park-Ohio in the 3rd quarter valued at $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Park-Ohio by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,372 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 607 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Park-Ohio during the 3rd quarter worth about $43,000. Legal & General Group Plc bought a new position in Park-Ohio during the 2nd quarter valued at about $38,000. Finally, Bank of America Corp DE lifted its holdings in Park-Ohio by 25.0% during the 1st quarter. Bank of America Corp DE now owns 14,033 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 2,805 shares during the last quarter. 51.38% of the stock is owned by institutional investors.

About Park-Ohio

Park-Ohio Holdings Corp. (NASDAQ: PKOH) is a diversified manufacturing and supply-chain management company serving original equipment manufacturers and other industrial customers. Through its operating businesses, the company provides engineered products, component manufacturing, and integrated supply-chain services.

Park-Ohio’s manufacturing activities include the production of forged, machined, stamped, molded, and assembled components, as well as specialized products made from metal, rubber, and other materials.