Illumine Investment Management LLC Buys Shares of 40,992 Park Aerospace Corp. $PKE

Illumine Investment Management LLC acquired a new stake in Park Aerospace Corp. (NYSE:PKE) during the 1st quarter, Holdings Channel.com reports. The firm acquired 40,992 shares of the semiconductor company’s stock, valued at approximately $1,122,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank raised its position in shares of Park Aerospace by 583.4% in the 4th quarter. Comerica Bank now owns 36,806 shares of the semiconductor company’s stock valued at $785,000 after acquiring an additional 31,420 shares during the period. Penn Capital Management Company LLC boosted its stake in Park Aerospace by 62.1% in the 3rd quarter. Penn Capital Management Company LLC now owns 192,667 shares of the semiconductor company’s stock worth $3,919,000 after purchasing an additional 73,833 shares during the period. Round Rock Advisors LLC boosted its position in shares of Park Aerospace by 64.5% during the fourth quarter. Round Rock Advisors LLC now owns 67,580 shares of the semiconductor company’s stock worth $1,442,000 after buying an additional 26,490 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Park Aerospace during the 1st quarter worth approximately $873,000. Finally, Stephens Investment Management Group LLC acquired a new position in Park Aerospace during the first quarter worth $14,926,000. Institutional investors and hedge funds own 77.83% of the company’s stock.

Park Aerospace Stock Performance

Shares of NYSE:PKE opened at $33.40 on Tuesday. The company has a market capitalization of $697.39 million, a PE ratio of 59.64 and a beta of 0.39. Park Aerospace Corp. has a 52-week low of $15.23 and a 52-week high of $39.86. The company has a fifty day moving average of $34.29 and a 200-day moving average of $29.43.

Park Aerospace (NYSE:PKE) last announced its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $24.19 million for the quarter, compared to analyst estimates of $22.31 million. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.

Park Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.50 annualized dividend and a yield of 1.5%. Park Aerospace’s payout ratio is presently 89.29%.

Wall Street Analyst Weigh In

PKE has been the subject of a number of analyst reports. Citigroup began coverage on Park Aerospace in a research note on Tuesday, June 9th. They issued an “outperform” rating for the company. Citizens Jmp assumed coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price target on the stock. Wall Street Zen cut Park Aerospace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Weiss Ratings raised shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Finally, Needham & Company LLC initiated coverage on Park Aerospace in a research report on Monday. They issued a “buy” rating and a $43.00 price target on the stock. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Park Aerospace has an average rating of “Buy” and a consensus price target of $42.50.

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.