28,370 Shares in Park Aerospace Corp. $PKE Bought by State of Wyoming

State of Wyoming purchased a new position in shares of Park Aerospace Corp. (NYSE:PKE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 28,370 shares of the semiconductor company’s stock, valued at approximately $1,083,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PKE. Brandes Investment Partners LP increased its stake in Park Aerospace by 3.5% in the 4th quarter. Brandes Investment Partners LP now owns 3,191,411 shares of the semiconductor company’s stock valued at $68,105,000 after buying an additional 107,231 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Park Aerospace by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 859,097 shares of the semiconductor company’s stock worth $23,522,000 after acquiring an additional 19,057 shares during the period. Stephens Investment Management Group LLC purchased a new stake in shares of Park Aerospace in the first quarter valued at about $14,926,000. Next Century Growth Investors LLC boosted its holdings in shares of Park Aerospace by 93.0% in the fourth quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company’s stock valued at $11,226,000 after acquiring an additional 253,508 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Park Aerospace by 1.4% in the fourth quarter. State Street Corp now owns 471,089 shares of the semiconductor company’s stock valued at $10,053,000 after acquiring an additional 6,434 shares in the last quarter. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Constantine Petropoulos sold 2,500 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $36.00, for a total value of $90,000.00. Following the sale, the insider directly owned 2,500 shares of the company’s stock, valued at approximately $90,000. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings cut shares of Park Aerospace from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Wall Street Zen lowered Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Needham & Company LLC reiterated a “buy” rating and set a $43.00 target price on shares of Park Aerospace in a research report on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Finally, Citizens Jmp assumed coverage on Park Aerospace in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $42.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Park Aerospace presently has a consensus rating of “Buy” and a consensus target price of $42.50.

Park Aerospace Stock Performance

Shares of PKE stock opened at $38.27 on Friday. The stock has a fifty day moving average price of $34.93 and a 200 day moving average price of $31.41. The stock has a market cap of $832.37 million, a PE ratio of 60.75 and a beta of 0.41. Park Aerospace Corp. has a 1 year low of $17.25 and a 1 year high of $39.86.

Park Aerospace (NYSE:PKE) last posted its earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. Park Aerospace had a return on equity of 10.75% and a net margin of 16.70%.The company had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.95 million.

Park Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 1st were given a $0.125 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.3%. Park Aerospace’s payout ratio is currently 79.37%.

Park Aerospace 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.