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

Park-Ohio (NASDAQ:PKOH) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Park-Ohio Stock Up 3.6 %

Park-Ohio stock opened at $23.90 on Thursday. 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 price-to-earnings ratio of 37.94 and a beta of 1.23. 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.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data 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 business had revenue of $389.30 million during the quarter, compared to analyst estimates of $386.45 million. Park-Ohio had a return on equity of 13.45% and a net margin of 0.47%. During the same period in the previous year, the business earned ($0.09) EPS. Equities research analysts forecast that Park-Ohio will post 3.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James W. Wert sold 1,500 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $25.98, for a total value of $38,970.00. Following the completion of the transaction, the director now owns 82,690 shares in the company, valued at approximately $2,148,286.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James W. Wert sold 1,500 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $25.98, for a total value of $38,970.00. Following the completion of the transaction, the director now owns 82,690 shares in the company, valued at approximately $2,148,286.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James W. Wert sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.02, for a total value of $27,020.00. Following the completion of the transaction, the director now 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. Insiders sold 3,500 shares of company stock worth $91,990 in the last 90 days. Insiders own 35.60% of the company’s stock.

Hedge Funds Weigh In On Park-Ohio

A number of institutional investors have recently modified their holdings of PKOH. BlackRock Inc. raised its stake in shares of Park-Ohio by 351.6% during the 2nd quarter. BlackRock Inc. now owns 488,811 shares of the industrial products company’s stock valued at $9,287,000 after buying an additional 380,560 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Park-Ohio during the 2nd quarter valued at about $2,310,000. Acadian Asset Management LLC raised its stake in shares of Park-Ohio by 70.6% during the 3rd quarter. Acadian Asset Management LLC now owns 219,837 shares of the industrial products company’s stock valued at $4,373,000 after buying an additional 90,998 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Park-Ohio by 105.1% during the 2nd quarter. Geode Capital Management LLC now owns 168,277 shares of the industrial products company’s stock valued at $3,197,000 after buying an additional 86,216 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Park-Ohio by 10.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 922,160 shares of the industrial products company’s stock valued at $12,975,000 after buying an additional 84,440 shares during the last quarter. Hedge funds and other 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.