StockNews.com Downgrades Park-Ohio (NASDAQ:PKOH) to Hold

Park-Ohio (NASDAQ:PKOH) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Park-Ohio Price Performance

Shares of PKOH stock opened at $32.81 on Tuesday. The stock’s fifty day simple moving average is $29.60 and its 200 day simple moving average is $27.87. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.45 and a quick ratio of 1.22. The firm has a market cap of $460.65 million, a price-to-earnings ratio of 26.25 and a beta of 1.16. Park-Ohio has a one year low of $22.32 and a one year high of $34.50.

Park-Ohio (NASDAQ:PKOH) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.89 by $0.18. The business had revenue of $417.60 million for the quarter. Park-Ohio had a return on equity of 14.64% and a net margin of 1.01%.

Hedge Funds Weigh In On Park-Ohio

A number of institutional investors and hedge funds have recently bought and sold shares of PKOH. Segall Bryant & Hamill LLC acquired a new position in Park-Ohio in the third quarter worth $1,758,000. First Eagle Investment Management LLC boosted its stake in Park-Ohio by 41.8% in the second quarter. First Eagle Investment Management LLC now owns 158,189 shares of the industrial products company’s stock worth $4,096,000 after purchasing an additional 46,660 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Park-Ohio by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 779,363 shares of the industrial products company’s stock worth $20,177,000 after purchasing an additional 12,267 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Park-Ohio by 79.4% in the third quarter. Assenagon Asset Management S.A. now owns 18,969 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 8,397 shares in the last quarter. Finally, L & S Advisors Inc bought a new stake in shares of Park-Ohio during the third quarter worth $230,000. Institutional investors and hedge funds own 51.38% of the company’s stock.

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.