Algert Global LLC boosted its holdings in shares of Park-Ohio Holdings Corp. (NASDAQ:PKOH) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,862 shares of the industrial products company’s stock after purchasing an additional 567 shares during the period. Algert Global LLC owned about 0.07% of Park-Ohio worth $289,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Panagora Asset Management Inc. bought a new stake in shares of Park-Ohio in the 2nd quarter worth approximately $34,000. BNP Paribas Arbitrage SA raised its holdings in Park-Ohio by 453.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,872 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 1,534 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Park-Ohio by 58.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,056 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 1,504 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Park-Ohio in the 1st quarter worth approximately $277,000. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new position in Park-Ohio in the 2nd quarter worth approximately $385,000. Institutional investors own 54.67% of the company’s stock.
Park-Ohio stock traded up $0.71 during mid-day trading on Friday, hitting $27.99. The stock had a trading volume of 29,417 shares, compared to its average volume of 22,312. The firm’s 50 day moving average is $29.15 and its 200 day moving average is $31.65. Park-Ohio Holdings Corp. has a one year low of $25.74 and a one year high of $38.77. The firm has a market capitalization of $341.21 million, a P/E ratio of 6.29 and a beta of 2.33. The company has a current ratio of 2.37, a quick ratio of 1.32 and a debt-to-equity ratio of 1.89.
Park-Ohio (NASDAQ:PKOH) last released its quarterly earnings data on Monday, August 5th. The industrial products company reported $1.07 EPS for the quarter, meeting the consensus estimate of $1.07. Park-Ohio had a net margin of 2.89% and a return on equity of 16.77%. The business had revenue of $415.30 million during the quarter, compared to the consensus estimate of $438.60 million. As a group, equities research analysts forecast that Park-Ohio Holdings Corp. will post 4.39 earnings per share for the current year.
In related news, Director Ronna Romney sold 5,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $26.14, for a total value of $130,700.00. Following the sale, the director now directly owns 18,909 shares of the company’s stock, valued at approximately $494,281.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James W. Wert acquired 2,500 shares of Park-Ohio stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $27.62 per share, for a total transaction of $69,050.00. Following the completion of the transaction, the director now directly owns 80,320 shares in the company, valued at $2,218,438.40. The disclosure for this purchase can be found here. 31.20% of the stock is currently owned by company insiders.
PKOH has been the subject of a number of research reports. TheStreet lowered shares of Park-Ohio from a “b-” rating to a “c+” rating in a research note on Monday, August 5th. BidaskClub lowered shares of Park-Ohio from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. ValuEngine upgraded Park-Ohio from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. B. Riley reduced their price objective on Park-Ohio from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, Zacks Investment Research lowered Park-Ohio from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.50.
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. 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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