Park-Ohio (PKOH) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Park-Ohio (NASDAQ:PKOH) from a hold rating to a buy rating in a research report released on Saturday morning. Zacks Investment Research currently has $49.00 target price on the industrial products company’s stock.

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. “

Several other equities analysts have also weighed in on the company. BidaskClub lowered Park-Ohio from a buy rating to a hold rating in a report on Thursday, January 18th. ValuEngine lowered Park-Ohio from a strong-buy rating to a buy rating in a report on Thursday, November 9th. Finally, B. Riley restated a neutral rating on shares of Park-Ohio in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Park-Ohio has an average rating of Hold and an average target price of $43.00.

Shares of Park-Ohio (NASDAQ PKOH) opened at $41.20 on Friday. The stock has a market capitalization of $542.57, a price-to-earnings ratio of 17.46 and a beta of 3.23. Park-Ohio has a 12-month low of $34.25 and a 12-month high of $47.90. The company has a current ratio of 2.36, a quick ratio of 1.39 and a debt-to-equity ratio of 1.79.

Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Park-Ohio had a net margin of 2.16% and a return on equity of 14.79%. The firm had revenue of $352.20 million for the quarter, compared to analyst estimates of $345.17 million. equities analysts forecast that Park-Ohio will post 3.18 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.50 annualized dividend and a yield of 1.21%. Park-Ohio’s dividend payout ratio (DPR) is currently 21.19%.

In other Park-Ohio news, COO Matthew V. Crawford sold 4,122 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $44.38, for a total transaction of $182,934.36. Following the transaction, the chief operating officer now directly owns 997,433 shares in the company, valued at $44,266,076.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick W. Fogarty sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $47.05, for a total value of $635,175.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,715 shares of company stock worth $1,008,612. Corporate insiders own 31.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of PKOH. Bank of New York Mellon Corp increased its stake in shares of Park-Ohio by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 75,203 shares of the industrial products company’s stock worth $2,866,000 after purchasing an additional 404 shares during the period. Teachers Advisors LLC increased its stake in shares of Park-Ohio by 4.0% in the second quarter. Teachers Advisors LLC now owns 15,695 shares of the industrial products company’s stock worth $598,000 after purchasing an additional 603 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Park-Ohio in the second quarter worth about $228,000. Northern Trust Corp increased its stake in shares of Park-Ohio by 13.6% in the second quarter. Northern Trust Corp now owns 111,886 shares of the industrial products company’s stock worth $4,263,000 after purchasing an additional 13,412 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Park-Ohio by 3.8% in the second quarter. Vanguard Group Inc. now owns 380,717 shares of the industrial products company’s stock worth $14,506,000 after purchasing an additional 13,983 shares during the period. Institutional investors and hedge funds own 55.55% of the company’s stock.

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Park-Ohio 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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