Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,200 shares of the industrial products company’s stock, valued at approximately $197,000.
Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in Park-Ohio Holdings Corp. by 31.7% during the 1st quarter. Russell Investments Group Ltd. now owns 4,981 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 1,200 shares in the last quarter. American International Group Inc. increased its holdings in Park-Ohio Holdings Corp. by 7.1% during the 1st quarter. American International Group Inc. now owns 5,238 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 346 shares in the last quarter. Royal Bank of Canada increased its holdings in Park-Ohio Holdings Corp. by 0.7% during the 2nd quarter. Royal Bank of Canada now owns 5,663 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 37 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Park-Ohio Holdings Corp. during the 2nd quarter valued at $228,000. Finally, Wedge Capital Management L L P NC increased its holdings in Park-Ohio Holdings Corp. by 11.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 6,180 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 622 shares in the last quarter. 55.26% of the stock is owned by hedge funds and other institutional investors.
Park-Ohio Holdings Corp. (PKOH) opened at 46.50 on Monday. The firm has a 50-day moving average price of $44.24 and a 200-day moving average price of $39.95. Park-Ohio Holdings Corp. has a 12 month low of $30.01 and a 12 month high of $47.00. The company has a market capitalization of $567.25 million, a price-to-earnings ratio of 17.60 and a beta of 3.46.
Park-Ohio Holdings Corp. (NASDAQ:PKOH) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $350.90 million during the quarter, compared to the consensus estimate of $355.83 million. Park-Ohio Holdings Corp. had a net margin of 2.50% and a return on equity of 16.90%. On average, equities analysts anticipate that Park-Ohio Holdings Corp. will post $3.25 earnings per share for the current fiscal year.
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In other news, Director James W. Wert sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $40.80, for a total transaction of $102,000.00. Following the completion of the transaction, the director now directly owns 81,695 shares in the company, valued at $3,333,156. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew V. Crawford sold 4,192 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $40.21, for a total transaction of $168,560.32. Following the transaction, the chief operating officer now owns 1,016,145 shares of the company’s stock, valued at $40,859,190.45. The disclosure for this sale can be found here. Insiders have sold 39,650 shares of company stock valued at $1,647,828 over the last quarter. Company insiders own 31.00% of the company’s stock.
A number of equities research analysts recently weighed in on the company. FBR & Co raised their price target on Park-Ohio Holdings Corp. from $33.00 to $37.00 and gave the company a “mkt perform” rating in a report on Wednesday, August 9th. BidaskClub cut Park-Ohio Holdings Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research cut Park-Ohio Holdings Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Park-Ohio Holdings Corp. has a consensus rating of “Hold” and an average price target of $45.00.
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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