Short Interest in Park-Ohio Holdings Corp. (NASDAQ:PKOH) Rises By 44.8%

Park-Ohio Holdings Corp. (NASDAQ:PKOH) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 105,000 shares, an increase of 44.8% from the May 30th total of 72,500 shares. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is presently 4.0 days. Approximately 1.2% of the shares of the company are short sold.

In related news, Director Patrick V. Auletta sold 2,300 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $31.33, for a total transaction of $72,059.00. Following the sale, the director now directly owns 17,125 shares in the company, valued at approximately $536,526.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edward F. Crawford acquired 12,532 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average price of $29.96 per share, for a total transaction of $375,458.72. Following the completion of the purchase, the insider now owns 1,497,675 shares in the company, valued at approximately $44,870,343. The disclosure for this purchase can be found here. Insiders own 31.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PKOH. Uniplan Investment Counsel Inc. purchased a new position in shares of Park-Ohio in the 4th quarter worth about $2,785,000. Gamco Investors INC. ET AL boosted its holdings in Park-Ohio by 4.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 790,175 shares of the industrial products company’s stock valued at $25,586,000 after acquiring an additional 35,500 shares during the period. BlackRock Inc. boosted its holdings in Park-Ohio by 6.3% during the 4th quarter. BlackRock Inc. now owns 588,085 shares of the industrial products company’s stock valued at $18,049,000 after acquiring an additional 35,078 shares during the period. Foresters Investment Management Company Inc. boosted its holdings in Park-Ohio by 17.1% during the 4th quarter. Foresters Investment Management Company Inc. now owns 147,800 shares of the industrial products company’s stock valued at $4,536,000 after acquiring an additional 21,600 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Park-Ohio by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 896,556 shares of the industrial products company’s stock valued at $27,515,000 after acquiring an additional 18,974 shares during the period. Hedge funds and other institutional investors own 53.62% of the company’s stock.

A number of analysts recently issued reports on the company. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday. TheStreet lowered Stitch Fix from a “c-” rating to a “d+” rating in a research note on Monday, May 6th. Finally, ValuEngine upgraded YY from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Park-Ohio has an average rating of “Hold” and a consensus price target of $39.00.

Park-Ohio stock traded up $0.24 during midday trading on Friday, hitting $30.95. 16,414 shares of the company’s stock were exchanged, compared to its average volume of 23,214. Park-Ohio has a 52-week low of $28.01 and a 52-week high of $43.15. The stock’s 50-day moving average price is $31.94. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.26 and a current ratio of 2.27. The firm has a market capitalization of $387.93 million, a P/E ratio of 7.23 and a beta of 2.28.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. Park-Ohio had a return on equity of 17.19% and a net margin of 3.29%. The firm had revenue of $420.10 million during the quarter, compared to analysts’ expectations of $420.00 million. As a group, research analysts expect that Park-Ohio will post 4.43 earnings per share for the current year.

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. 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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