Park-Ohio (NASDAQ:PKOH) Downgraded by Zacks Investment Research 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 note published on Saturday, 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. “

A number of other equities analysts have also recently issued reports on the stock. B. Riley lowered their price objective on shares of Park-Ohio from $40.00 to $30.00 and set a neutral rating for the company in a research report on Monday, August 12th. TheStreet cut shares of Park-Ohio from a b- rating to a c+ rating in a research report on Monday, August 5th. BidaskClub upgraded shares of Park-Ohio from a sell rating to a hold rating in a research report on Wednesday. Finally, ValuEngine cut shares of Park-Ohio from a sell rating to a strong sell rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Park-Ohio currently has a consensus rating of Hold and a consensus price target of $30.50.

Shares of Park-Ohio stock traded down $0.67 during trading on Friday, hitting $32.90. 60,400 shares of the stock were exchanged, compared to its average volume of 27,666. The company has a fifty day moving average price of $30.07 and a 200-day moving average price of $31.12. The stock has a market capitalization of $417.46 million, a price-to-earnings ratio of 7.69 and a beta of 2.31. Park-Ohio has a 1-year low of $25.74 and a 1-year high of $38.77. The company has a current ratio of 2.34, a quick ratio of 1.32 and a debt-to-equity ratio of 1.83.

Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.13). The company had revenue of $403.40 million for the quarter, compared to analyst estimates of $430.20 million. Park-Ohio had a return on equity of 16.27% and a net margin of 2.78%. Equities research analysts forecast that Park-Ohio will post 4.15 EPS for the current fiscal year.

The company 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 1.52%. The ex-dividend date is Tuesday, November 12th. Park-Ohio’s dividend payout ratio is currently 11.68%.

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In other news, Director Ronna Romney sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $26.14, for a total value of $130,700.00. Following the sale, the director now directly owns 18,909 shares of the company’s stock, valued at approximately $494,281.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 31.20% of the company’s stock.

Large investors have recently bought and sold shares of the company. Panagora Asset Management Inc. bought a new stake in shares of Park-Ohio in the 2nd quarter valued at $34,000. Royal Bank of Canada boosted its stake in Park-Ohio by 45.5% during the second quarter. Royal Bank of Canada now owns 1,164 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 364 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Park-Ohio by 58.9% during the second quarter. Acadian Asset Management LLC now owns 4,056 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 1,504 shares in the last quarter. Algert Global LLC lifted its stake in shares of Park-Ohio by 6.8% in the second quarter. Algert Global LLC now owns 8,862 shares of the industrial products company’s stock valued at $289,000 after buying an additional 567 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Park-Ohio by 24.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,640 shares of the industrial products company’s stock valued at $347,000 after buying an additional 2,100 shares in the last quarter. 54.58% of the stock is currently owned by institutional investors.

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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