Park Aerospace (NYSE:PKE) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Park Aerospace (NYSE:PKE) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Park Aerospace Price Performance

Shares of NYSE PKE opened at $14.38 on Wednesday. The company has a 50 day simple moving average of $14.57 and a 200-day simple moving average of $13.74. The company has a market capitalization of $287.05 million, a P/E ratio of 42.29 and a beta of 0.42. Park Aerospace has a 1 year low of $11.96 and a 1 year high of $16.96.

Park Aerospace (NYSE:PKE) last announced its quarterly earnings results on Tuesday, October 15th. The semiconductor company reported $0.10 earnings per share for the quarter. The business had revenue of $16.71 million during the quarter. Park Aerospace had a net margin of 11.82% and a return on equity of 6.61%.

Park Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 4th. Investors of record on Friday, January 3rd will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, January 3rd. Park Aerospace’s payout ratio is currently 147.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brandes Investment Partners LP raised its holdings in Park Aerospace by 12.0% in the second quarter. Brandes Investment Partners LP now owns 2,150,573 shares of the semiconductor company’s stock valued at $29,256,000 after acquiring an additional 229,720 shares in the last quarter. Renaissance Technologies LLC raised its position in Park Aerospace by 0.9% in the 2nd quarter. Renaissance Technologies LLC now owns 992,797 shares of the semiconductor company’s stock valued at $13,581,000 after purchasing an additional 8,700 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Park Aerospace by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 661,134 shares of the semiconductor company’s stock valued at $9,044,000 after buying an additional 5,933 shares during the last quarter. Foundation Resource Management Inc. lifted its position in Park Aerospace by 0.4% during the 3rd quarter. Foundation Resource Management Inc. now owns 465,759 shares of the semiconductor company’s stock worth $6,069,000 after acquiring an additional 2,025 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Park Aerospace by 1.3% during the third quarter. Geode Capital Management LLC now owns 422,116 shares of the semiconductor company’s stock worth $5,502,000 after purchasing an additional 5,491 shares during the period. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

Park Aerospace Company Profile

Park Aerospace Corp., an aerospace company, develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the aerospace market in North America, Asia, and Europe. It offers advanced composite materials, including film adhesives and lightning strike protection materials that are used to produce primary and secondary structures for jet engines, large and regional transport aircrafts, military aircrafts, unmanned aerial vehicles, business jets, general aviation aircrafts, and rotary wing aircrafts.