The 32027120 drain valve is a manual cock style drain used on a wide variety of Ingersoll Rand T30 reciprocating air compressors. This has 1/4" NPT threads and connects to the bottom of the receiver tank to drain water.
This is an OEM part from Ingersoll Rand.
Part #: 38436721
Part #: 38440236
Part #: 38436739
Part #: 32170979
Part #: 32170953