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

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

Park-Ohio Stock Down 1.0 %

PKOH traded down $0.23 during trading hours on Thursday, reaching $23.08. 22,578 shares of the stock traded hands, compared to its average volume of 24,321. The firm’s fifty day simple moving average is $25.39 and its two-hundred day simple moving average is $24.60. The company has a market cap of $301.66 million, a price-to-earnings ratio of 36.64 and a beta of 1.23. Park-Ohio has a fifty-two week low of $12.07 and a fifty-two week high of $28.79. The company has a debt-to-equity ratio of 2.18, a current ratio of 2.27 and a quick ratio of 1.14.

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

Insider Activity at Park-Ohio

In other Park-Ohio news, Director James W. Wert sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.02, for a total transaction of $27,020.00. Following the transaction, the director now directly owns 84,190 shares in the company, valued at approximately $2,274,813.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Park-Ohio news, Director James W. Wert sold 1,500 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total transaction of $38,970.00. Following the transaction, the director now directly owns 82,690 shares in the company, valued at approximately $2,148,286.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James W. Wert sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.02, for a total transaction of $27,020.00. Following the transaction, the director now owns 84,190 shares in the company, valued at $2,274,813.80. The disclosure for this sale can be found here. In the last three months, insiders sold 3,500 shares of company stock valued at $91,990. Corporate insiders own 35.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PKOH. Bank of New York Mellon Corp lifted its position in shares of Park-Ohio by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 70,469 shares of the industrial products company’s stock worth $991,000 after buying an additional 861 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Park-Ohio by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 427,986 shares of the industrial products company’s stock worth $6,022,000 after buying an additional 8,817 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Park-Ohio by 10.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 922,160 shares of the industrial products company’s stock worth $12,975,000 after buying an additional 84,440 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Park-Ohio by 6.0% in the 1st quarter. Gabelli Funds LLC now owns 466,062 shares of the industrial products company’s stock worth $6,557,000 after buying an additional 26,462 shares during the last quarter. Finally, Teton Advisors Inc. lifted its position in shares of Park-Ohio by 5.3% in the 1st quarter. Teton Advisors Inc. now owns 200,047 shares of the industrial products company’s stock worth $2,815,000 after buying an additional 10,000 shares during the last quarter. 51.38% of the stock is currently owned by institutional investors.

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.