StockNews.com Lowers Park-Ohio (NASDAQ:PKOH) to Hold

Park-Ohio (NASDAQ:PKOH) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Park-Ohio Trading Up 0.3 %

Shares of Park-Ohio stock traded up $0.08 during trading hours on Tuesday, hitting $30.32. The company’s stock had a trading volume of 32,638 shares, compared to its average volume of 26,243. The firm has a fifty day moving average of $27.46 and a 200-day moving average of $26.15. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.22 and a current ratio of 2.42. The stock has a market cap of $396.31 million, a price-to-earnings ratio of 33.32 and a beta of 1.18. Park-Ohio has a twelve month low of $17.41 and a twelve month high of $31.95.

Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.08. The business had revenue of $432.60 million for the quarter. Park-Ohio had a net margin of 1.09% and a return on equity of 14.72%. During the same period last year, the firm posted $0.83 earnings per share.

Insider Activity

In other Park-Ohio news, Director Edward F. Crawford bought 10,000 shares of Park-Ohio stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $24.68 per share, for a total transaction of $246,800.00. Following the acquisition, the director now directly owns 761,273 shares in the company, valued at $18,788,217.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Edward F. Crawford bought 10,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $24.68 per share, with a total value of $246,800.00. Following the purchase, the director now directly owns 761,273 shares of the company’s stock, valued at approximately $18,788,217.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew V. Crawford purchased 5,272 shares of Park-Ohio stock in a transaction on Friday, June 7th. The stock was bought at an average cost of $23.96 per share, for a total transaction of $126,317.12. Following the transaction, the chief executive officer now directly owns 864,813 shares in the company, valued at $20,720,919.48. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 20,802 shares of company stock valued at $507,252. 33.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Park-Ohio by 1,986.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,586 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,510 shares during the last quarter. AJOVista LLC acquired a new stake in shares of Park-Ohio during the 4th quarter worth about $65,000. Strs Ohio purchased a new stake in Park-Ohio during the fourth quarter worth approximately $75,000. Price T Rowe Associates Inc. MD boosted its holdings in Park-Ohio by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 449 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Park-Ohio by 7.8% in the first quarter. Empowered Funds LLC now owns 9,618 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 51.38% of the company’s stock.

Park-Ohio Company Profile

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. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.