Park-Ohio (NASDAQ:PKOH) Downgraded by StockNews.com to “Hold”

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

Park-Ohio Price Performance

NASDAQ PKOH traded up $0.08 on Tuesday, reaching $30.32. The company had a trading volume of 32,638 shares, compared to its average volume of 26,243. The stock has a market capitalization of $396.31 million, a PE ratio of 33.32 and a beta of 1.18. Park-Ohio has a 12 month low of $17.41 and a 12 month high of $31.95. The company has a quick ratio of 1.22, a current ratio of 2.42 and a debt-to-equity ratio of 2.22. The firm’s 50 day moving average price is $27.46 and its 200 day moving average price is $26.15.

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

Insider Buying and Selling

In other Park-Ohio news, Director Edward F. Crawford bought 10,000 shares of Park-Ohio stock in a transaction dated Tuesday, June 11th. The shares were purchased 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 approximately $18,788,217.64. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Matthew V. Crawford purchased 5,091 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of $24.19 per share, for a total transaction of $123,151.29. Following the completion of the transaction, the chief executive officer now directly owns 869,904 shares in the company, valued at $21,042,977.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward F. Crawford acquired 10,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $24.68 per share, with a total value of $246,800.00. Following the completion of the purchase, the director now directly owns 761,273 shares of the company’s stock, valued at $18,788,217.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 20,802 shares of company stock worth $507,252. Insiders own 33.04% of the company’s stock.

Institutional Investors Weigh In On Park-Ohio

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Park-Ohio by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 449 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Park-Ohio by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 95,170 shares of the industrial products company’s stock worth $2,464,000 after purchasing an additional 496 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Park-Ohio by 7.8% during 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 period. Acadian Asset Management LLC grew its holdings in shares of Park-Ohio by 0.4% in the first quarter. Acadian Asset Management LLC now owns 246,968 shares of the industrial products company’s stock worth $6,584,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Aristeia Capital L.L.C. increased its stake in Park-Ohio by 11.3% in the 2nd quarter. Aristeia Capital L.L.C. now owns 11,515 shares of the industrial products company’s stock worth $298,000 after buying an additional 1,170 shares during the period. 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.