StockNews.com Upgrades Park-Ohio (NASDAQ:PKOH) to “Strong-Buy”

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

Park-Ohio Stock Up 3.6 %

PKOH stock opened at $23.90 on Thursday. Park-Ohio has a 1-year low of $12.07 and a 1-year high of $28.79. The business has a fifty day moving average price of $25.37 and a 200-day moving average price of $24.59. The company has a debt-to-equity ratio of 2.18, a current ratio of 2.27 and a quick ratio of 1.14. The stock has a market capitalization of $312.37 million, a P/E ratio of 37.94 and a beta of 1.23.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. The business had revenue of $389.30 million during the quarter, compared to analysts’ expectations of $386.45 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. Equities analysts forecast that Park-Ohio will post 3.36 earnings per share for the current fiscal year.

Insider Activity at Park-Ohio

In related news, Director James W. Wert sold 1,500 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $25.98, for a total transaction of $38,970.00. Following the completion of the sale, the director now owns 82,690 shares in the company, valued at $2,148,286.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Park-Ohio news, Director James W. Wert sold 1,500 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $25.98, for a total transaction of $38,970.00. Following the completion of the sale, the director now owns 82,690 shares of the company’s stock, valued at $2,148,286.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James W. Wert sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.02, for a total value of $27,020.00. Following the sale, the director now directly owns 84,190 shares of the company’s stock, valued at approximately $2,274,813.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,500 shares of company stock worth $91,990. 35.60% of the stock is owned by insiders.

Institutional Trading of Park-Ohio

Several hedge funds have recently bought and sold shares of PKOH. BlackRock Inc. boosted its stake in shares of Park-Ohio by 351.6% in the second quarter. BlackRock Inc. now owns 488,811 shares of the industrial products company’s stock worth $9,287,000 after acquiring an additional 380,560 shares during the period. Millennium Management LLC bought a new position in shares of Park-Ohio in the second quarter worth about $2,310,000. Acadian Asset Management LLC boosted its stake in shares of Park-Ohio by 70.6% in the third quarter. Acadian Asset Management LLC now owns 219,837 shares of the industrial products company’s stock worth $4,373,000 after acquiring an additional 90,998 shares during the period. Geode Capital Management LLC boosted its stake in shares of Park-Ohio by 105.1% in the second quarter. Geode Capital Management LLC now owns 168,277 shares of the industrial products company’s stock worth $3,197,000 after acquiring an additional 86,216 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Park-Ohio by 10.1% in the first quarter. Gamco Investors INC. ET AL now owns 922,160 shares of the industrial products company’s stock worth $12,975,000 after acquiring an additional 84,440 shares during the period. Institutional investors own 51.38% of the company’s stock.

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.