Park Aerospace (NYSE:PKE) Stock Price Down 5.2% – Here’s Why

Park Aerospace Corp. (NYSE:PKE) shares dropped 5.2% on Thursday . The company traded as low as $32.22 and last traded at $32.0940. Approximately 93,228 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 264,305 shares. The stock had previously closed at $33.86.

Wall Street Analyst Weigh In

PKE has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Park Aerospace Price Performance

The firm has a market cap of $688.78 million, a PE ratio of 80.37 and a beta of 0.45. The business’s 50 day moving average price is $31.26 and its 200 day moving average price is $25.65.

Park Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Thursday, April 2nd were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.4%. Park Aerospace’s payout ratio is currently 116.28%.

Institutional Trading of Park Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of PKE. Stephens Investment Management Group LLC purchased a new stake in shares of Park Aerospace during the first quarter worth about $14,926,000. Palisades Investment Partners LLC purchased a new stake in shares of Park Aerospace during the third quarter worth about $5,904,000. Next Century Growth Investors LLC increased its stake in shares of Park Aerospace by 93.0% during the fourth quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company’s stock worth $11,226,000 after purchasing an additional 253,508 shares in the last quarter. Portolan Capital Management LLC acquired a new position in Park Aerospace during the third quarter worth about $4,984,000. Finally, Essex Investment Management Co. LLC acquired a new position in Park Aerospace during the third quarter worth about $3,060,000. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Park Aerospace Company Profile

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.