Park Aerospace (NYSE:PKE) Reaches New 12-Month High – Here’s What Happened

Park Aerospace Corp. (NYSE:PKE)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.51 and last traded at $27.7730, with a volume of 164427 shares traded. The stock had previously closed at $26.42.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PKE shares. Wall Street Zen raised shares of Park Aerospace from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings lowered Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Park Aerospace Stock Performance

The company has a market capitalization of $582.95 million, a PE ratio of 68.02 and a beta of 0.29. The company’s 50-day simple moving average is $24.21 and its 200-day simple moving average is $21.17.

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. The firm had revenue of $17.33 million for the quarter. Park Aerospace had a return on equity of 9.28% and a net margin of 13.14%.

Park Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, January 2nd. Park Aerospace’s dividend payout ratio is 116.28%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PKE. Millennium Management LLC increased its holdings in Park Aerospace by 64.4% in the fourth quarter. Millennium Management LLC now owns 110,831 shares of the semiconductor company’s stock valued at $2,365,000 after buying an additional 43,415 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Park Aerospace by 51.7% during the 4th quarter. AQR Capital Management LLC now owns 18,762 shares of the semiconductor company’s stock worth $400,000 after purchasing an additional 6,391 shares during the period. Trexquant Investment LP acquired a new stake in Park Aerospace in the 4th quarter worth about $559,000. Price T Rowe Associates Inc. MD boosted its position in shares of Park Aerospace by 11.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,238 shares of the semiconductor company’s stock worth $1,094,000 after acquiring an additional 5,237 shares during the last quarter. Finally, &PARTNERS grew its stake in shares of Park Aerospace by 5.8% during the 4th quarter. &PARTNERS now owns 21,623 shares of the semiconductor company’s stock valued at $461,000 after buying an additional 1,194 shares during the period. 77.83% of the stock is currently owned by institutional investors and hedge funds.

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.