Park Aerospace (NYSE:PKE) Lowered to Hold at StockNews.com

StockNews.com cut shares of Park Aerospace (NYSE:PKE) from a buy rating to a hold rating in a research report report published on Thursday morning.

Park Aerospace Price Performance

NYSE PKE opened at $13.89 on Thursday. The company has a market cap of $281.27 million, a P/E ratio of 37.54 and a beta of 0.40. Park Aerospace has a 12 month low of $13.03 and a 12 month high of $16.96. The company has a 50-day moving average of $13.81 and a 200-day moving average of $14.57.

Park Aerospace (NYSE:PKE) last posted its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.11 earnings per share for the quarter. Park Aerospace had a net margin of 13.34% and a return on equity of 6.78%. The company had revenue of $16.33 million for the quarter.

Park Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 1st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.50 annualized dividend and a yield of 3.60%. Park Aerospace’s dividend payout ratio is presently 135.14%.

Hedge Funds Weigh In On Park Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cove Street Capital LLC acquired a new stake in Park Aerospace during the 1st quarter worth approximately $5,941,000. Foundation Resource Management Inc. increased its position in shares of Park Aerospace by 99.3% in the fourth quarter. Foundation Resource Management Inc. now owns 443,334 shares of the semiconductor company’s stock worth $6,517,000 after acquiring an additional 220,898 shares in the last quarter. Roubaix Capital LLC increased its position in shares of Park Aerospace by 33.3% in the first quarter. Roubaix Capital LLC now owns 409,224 shares of the semiconductor company’s stock worth $6,805,000 after acquiring an additional 102,119 shares in the last quarter. Premier Path Wealth Partners LLC purchased a new position in shares of Park Aerospace in the 4th quarter valued at $490,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Park Aerospace by 1,704.2% during the 1st quarter. Russell Investments Group Ltd. now owns 19,738 shares of the semiconductor company’s stock valued at $328,000 after acquiring an additional 18,644 shares in the last quarter. 77.83% of the stock is owned by institutional investors and hedge funds.

About Park Aerospace

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.