Lazard Asset Management LLC Makes New $2.01 Million Investment in Park Aerospace Corp. $PKE

Lazard Asset Management LLC purchased a new position in shares of Park Aerospace Corp. (NYSE:PKE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 73,461 shares of the semiconductor company’s stock, valued at approximately $2,011,000.

Other large investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Park Aerospace in the fourth quarter valued at about $25,000. BNP Paribas Financial Markets grew its position in Park Aerospace by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after buying an additional 726 shares during the period. Jones Financial Companies Lllp acquired a new position in Park Aerospace during the first quarter worth about $52,000. Tower Research Capital LLC TRC increased its holdings in Park Aerospace by 241.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock valued at $63,000 after buying an additional 3,024 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in Park Aerospace in the first quarter valued at about $64,000. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Park Aerospace Trading Down 0.0%

Shares of PKE opened at $33.89 on Monday. Park Aerospace Corp. has a 12-month low of $17.25 and a 12-month high of $39.86. The stock has a market cap of $737.18 million, a P/E ratio of 53.80 and a beta of 0.39. The company has a 50-day moving average of $34.26 and a two-hundred day moving average of $30.59.

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

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. This represents a $0.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, July 1st. Park Aerospace’s dividend payout ratio is 79.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PKE. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of Park Aerospace in a research note on Tuesday, July 21st. Weiss Ratings raised Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Citizens Jmp initiated coverage on Park Aerospace in a research report on Tuesday, June 9th. They set a “market outperform” rating and a $42.00 target price on the stock. Citigroup reiterated a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Finally, Wall Street Zen cut Park Aerospace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $42.50.

Insider Buying and Selling

In other Park Aerospace news, insider Constantine Petropoulos sold 2,500 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $36.00, for a total transaction of $90,000.00. Following the sale, the insider owned 2,500 shares in the company, valued at approximately $90,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.10% 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.