Park Aerospace (NYSE:PKE) Trading Up 9.3% – Here’s What Happened

Shares of Park Aerospace Corp. (NYSE:PKE) traded up 9.3% on Wednesday . The stock traded as high as $25.40 and last traded at $25.4430. 761,038 shares changed hands during trading, an increase of 98% from the average session volume of 385,320 shares. The stock had previously closed at $23.27.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Park Aerospace Trading Down 0.3%

The firm has a market capitalization of $499.84 million, a PE ratio of 58.33 and a beta of 0.31. The company has a fifty day moving average price of $20.81 and a two-hundred day moving average price of $19.38.

Park Aerospace (NYSE:PKE) last released its quarterly earnings results on Tuesday, January 13th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter. Park Aerospace had a return on equity of 9.28% and a net margin of 13.14%.The firm had revenue of $17.33 million for the quarter.

Park Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Friday, January 2nd will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, January 2nd. Park Aerospace’s payout ratio is presently 116.28%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PKE. BNP Paribas Financial Markets increased its stake in Park Aerospace by 50.0% in the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 726 shares during the period. Rhumbline Advisers grew its holdings in shares of Park Aerospace by 4.9% during the second quarter. Rhumbline Advisers now owns 30,657 shares of the semiconductor company’s stock worth $453,000 after buying an additional 1,421 shares during the last quarter. Jane Street Group LLC increased its position in Park Aerospace by 11.4% in the 1st quarter. Jane Street Group LLC now owns 14,205 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 1,456 shares during the period. First Horizon Advisors Inc. increased its position in Park Aerospace by 179.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,596 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 2,307 shares during the period. Finally, Legal & General Group Plc raised its stake in Park Aerospace by 161.0% during the 2nd quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 2,890 shares during the last quarter. 77.83% of the stock is owned by hedge funds and other institutional investors.

About Park Aerospace

Park Aerospace (NYSE: PKE) is a specialized materials and manufacturing company that designs, develops and produces high-performance composite structures, engineered laminates and specialty adhesives for aerospace, defense and industrial markets. Its product portfolio includes advanced honeycomb cores, composite assemblies, dielectric and high-reliability circuit materials, as well as structural and bonding solutions that meet demanding performance and weight requirements.

The company operates through two principal segments.