Renaissance Technologies LLC grew its holdings in Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 15.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,200 shares of the industrial products company’s stock after buying an additional 11,200 shares during the period. Renaissance Technologies LLC’s holdings in Park-Ohio were worth $3,178,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. First Trust Advisors LP grew its stake 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 worth $370,000 after buying an additional 1,482 shares in the last quarter. Strs Ohio grew its stake in shares of Park-Ohio by 9.8% in the 2nd quarter. Strs Ohio now owns 18,000 shares of the industrial products company’s stock worth $671,000 after buying an additional 1,600 shares in the last quarter. Millennium Management LLC grew its stake in shares of Park-Ohio by 6.0% in the 1st quarter. Millennium Management LLC now owns 31,635 shares of the industrial products company’s stock worth $1,229,000 after buying an additional 1,798 shares in the last quarter. Northern Trust Corp grew its stake in shares of Park-Ohio by 1.7% in the 1st quarter. Northern Trust Corp now owns 110,839 shares of the industrial products company’s stock worth $4,305,000 after buying an additional 1,836 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Park-Ohio by 7.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 45,160 shares of the industrial products company’s stock worth $1,685,000 after buying an additional 3,290 shares in the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on PKOH. Zacks Investment Research cut shares of Park-Ohio from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 11th. ValuEngine cut shares of Park-Ohio from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Finally, BidaskClub upgraded shares of Park-Ohio from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $45.00.
Park-Ohio stock opened at $36.00 on Friday. The stock has a market capitalization of $465.25 million, a PE ratio of 11.15 and a beta of 2.85. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.55 and a quick ratio of 1.54. Park-Ohio Holdings Corp. has a 12-month low of $34.95 and a 12-month high of $47.90.
Park-Ohio (NASDAQ:PKOH) last released its earnings results on Thursday, August 9th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.14. The firm had revenue of $432.20 million during the quarter, compared to analyst estimates of $397.83 million. Park-Ohio had a net margin of 2.60% and a return on equity of 15.68%. Research analysts forecast that Park-Ohio Holdings Corp. will post 3.89 EPS for the current year.
In other news, insider Edward F. Crawford sold 48,186 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $40.59, for a total value of $1,955,869.74. Following the completion of the sale, the insider now owns 1,522,148 shares in the company, valued at approximately $61,783,987.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.20% of the stock is currently owned by company insiders.
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.
Further Reading: Buyback For Investors Defined
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