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

StockNews.com downgraded shares of Park Aerospace (NYSE:PKE) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Park Aerospace Stock Up 2.6 %

Shares of PKE stock opened at $14.95 on Tuesday. The firm has a market cap of $298.40 million, a P/E ratio of 43.97 and a beta of 0.38. The business has a 50-day moving average price of $13.62 and a two-hundred day moving average price of $13.64. Park Aerospace has a 12-month low of $11.96 and a 12-month high of $16.96.

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

Park Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Tuesday, October 1st were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, October 1st. Park Aerospace’s dividend payout ratio is currently 147.06%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PKE. Cove Street Capital LLC bought a new position in Park Aerospace during the 1st quarter worth approximately $5,941,000. Brandes Investment Partners LP boosted its stake in shares of Park Aerospace by 12.0% during 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 purchasing an additional 229,720 shares during the period. Royce & Associates LP boosted its stake in shares of Park Aerospace by 94.9% during the third quarter. Royce & Associates LP now owns 371,673 shares of the semiconductor company’s stock valued at $4,843,000 after purchasing an additional 181,006 shares during the period. Roubaix Capital LLC increased its stake 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 buying an additional 102,119 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Park Aerospace in the second quarter worth $617,000. Hedge funds and other institutional investors own 77.83% of the company’s stock.

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.