Park Aerospace (NYSE:PKE) Hits New 1-Year High – Still a Buy?

Shares of Park Aerospace Corp. (NYSE:PKE) hit a new 52-week high on Tuesday . The stock traded as high as $36.63 and last traded at $36.58, with a volume of 16429 shares changing hands. The stock had previously closed at $34.60.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings raised Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Wall Street Zen cut Park Aerospace from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Park Aerospace Price Performance

The company has a market capitalization of $721.27 million, a PE ratio of 84.16 and a beta of 0.45. The company has a 50-day moving average of $31.42 and a two-hundred day moving average of $25.80.

Park Aerospace Announces Dividend

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

Institutional Investors Weigh In On Park Aerospace

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Park Aerospace during the 4th quarter worth approximately $25,000. BNP Paribas Financial Markets increased its holdings in Park Aerospace by 50.0% in the 2nd 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 last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Park Aerospace during the first quarter worth $52,000. Tower Research Capital LLC TRC increased its position in shares of Park Aerospace by 241.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock worth $63,000 after acquiring an additional 3,024 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in shares of Park Aerospace during the first quarter worth $64,000. 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.