Park-Ohio (NASDAQ:PKOH) Upgraded at StockNews.com

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

Park-Ohio Trading Down 1.9 %

Shares of PKOH traded down $0.63 during mid-day trading on Thursday, hitting $32.04. 17,934 shares of the company’s stock traded hands, compared to its average volume of 27,672. The company has a quick ratio of 1.26, a current ratio of 2.45 and a debt-to-equity ratio of 1.90. Park-Ohio has a 1 year low of $22.52 and a 1 year high of $34.50. The firm has a market capitalization of $449.84 million, a P/E ratio of 25.63 and a beta of 1.16. The business’s 50-day moving average price is $30.43 and its 200-day moving average price is $28.32.

Park-Ohio (NASDAQ:PKOH) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.18. Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%. The firm had revenue of $417.60 million for the quarter.

Hedge Funds Weigh In On Park-Ohio

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Park-Ohio by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 779,363 shares of the industrial products company’s stock valued at $20,177,000 after purchasing an additional 12,267 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Park-Ohio by 0.7% during the first quarter. Vanguard Group Inc. now owns 442,830 shares of the industrial products company’s stock valued at $11,815,000 after purchasing an additional 3,236 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Park-Ohio by 1.5% during the third quarter. Geode Capital Management LLC now owns 194,982 shares of the industrial products company’s stock valued at $5,987,000 after purchasing an additional 2,928 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Park-Ohio by 41.8% during the second quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock valued at $4,096,000 after purchasing an additional 46,660 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Park-Ohio by 0.8% during the third quarter. State Street Corp now owns 134,356 shares of the industrial products company’s stock valued at $4,125,000 after purchasing an additional 1,034 shares in the last quarter. 51.38% of the stock is owned by hedge funds and other 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. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.