Acadian Asset Management LLC Boosts Stake in Park Electrochemical Corp. (PKE)
Acadian Asset Management LLC lifted its holdings in Park Electrochemical Corp. (NYSE:PKE) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,510 shares of the semiconductor company’s stock after buying an additional 6,302 shares during the period. Acadian Asset Management LLC owned about 0.36% of Park Electrochemical worth $1,433,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new position in shares of Park Electrochemical during the 2nd quarter worth about $103,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Park Electrochemical during the 2nd quarter worth about $201,000. SG Americas Securities LLC purchased a new position in shares of Park Electrochemical during the 2nd quarter worth about $210,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Park Electrochemical during the 2nd quarter worth about $216,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Park Electrochemical during the 2nd quarter worth about $224,000. 82.37% of the stock is owned by hedge funds and other institutional investors.
Separately, ValuEngine cut shares of Park Electrochemical from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th.
Park Electrochemical (NYSE:PKE) last released its quarterly earnings results on Thursday, October 4th. The semiconductor company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). Park Electrochemical had a return on equity of 5.10% and a net margin of 25.50%. The firm had revenue of $11.21 million for the quarter. During the same period in the previous year, the company posted $0.12 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 6th. Shareholders of record on Tuesday, October 2nd were given a $0.10 dividend. The ex-dividend date was Monday, October 1st. This represents a $0.40 annualized dividend and a yield of 2.27%.
Park Electrochemical Company Profile
Park Electrochemical Corp., through its subsidiaries, develops, manufactures, markets, and sells high-technology digital and radio frequency/microwave printed circuit material products primarily for the telecommunications and Internet infrastructure, enterprise, and military/aerospace markets. It also designs, develops, and manufactures advanced composite materials, primary and secondary structures and assemblies, and low-volume tooling products for the aerospace markets.
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