Park-Ohio (PKOH) Downgraded to Sell at ValuEngine

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ValuEngine downgraded shares of Park-Ohio (NASDAQ:PKOH) from a hold rating to a sell rating in a research note published on Wednesday.

A number of other research firms have also recently issued reports on PKOH. Zacks Investment Research cut Park-Ohio from a buy rating to a hold rating in a report on Thursday, May 17th. BidaskClub cut Park-Ohio from a sell rating to a strong sell rating in a report on Friday, June 8th. Finally, TheStreet upgraded Park-Ohio from a c+ rating to a b- rating in a report on Friday, June 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Park-Ohio has an average rating of Hold and a consensus price target of $45.00.

Shares of Park-Ohio stock opened at $39.00 on Wednesday. The firm has a market cap of $481.02 million, a P/E ratio of 10.16 and a beta of 2.86. Park-Ohio has a 12 month low of $34.95 and a 12 month high of $47.90. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.54 and a current ratio of 2.55.

Park-Ohio (NASDAQ:PKOH) last issued its quarterly earnings data on Thursday, August 9th. The industrial products company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.14. The business had revenue of $432.20 million for the quarter, compared to the consensus estimate of $397.83 million. Park-Ohio had a return on equity of 15.68% and a net margin of 2.60%. analysts expect that Park-Ohio will post 3.89 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 27th. Shareholders of record on Monday, August 13th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Friday, August 10th. Park-Ohio’s dividend payout ratio (DPR) is presently 15.48%.

In other Park-Ohio news, insider Edward F. Crawford sold 48,186 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $40.59, for a total transaction of $1,955,869.74. Following the completion of the transaction, the insider now owns 1,522,148 shares in the company, valued at approximately $61,783,987.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronna Romney sold 5,060 shares of the stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $38.41, for a total value of $194,354.60. Following the transaction, the director now owns 23,684 shares of the company’s stock, valued at approximately $909,702.44. The disclosure for this sale can be found here. 31.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Sun Life Financial INC bought a new position in shares of Park-Ohio in the 2nd quarter valued at about $165,000. Tower Research Capital LLC TRC grew its holdings in shares of Park-Ohio by 279.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,426 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 3,259 shares in the last quarter. PEAK6 Investments L.P. grew its holdings in shares of Park-Ohio by 7,026.6% in the 2nd quarter. PEAK6 Investments L.P. now owns 6,511 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 6,605 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Park-Ohio by 17.6% in the 2nd quarter. First Trust Advisors LP now owns 9,907 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Mackay Shields LLC bought a new position in shares of Park-Ohio in the 1st quarter valued at about $633,000. Hedge funds and other institutional investors own 53.94% of the company’s stock.

About Park-Ohio

Park-Ohio Holdings Corp., through its subsidiaries, provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Asia, Europe, Canada, Mexico, 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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