Park Aerospace (NYSE:PKE) Stock Jumps 6.2% – Here’s Why

Park Aerospace Corp. (NYSE:PKE) traded up 6.2% during trading on Thursday. The stock traded as high as $30.70 and last traded at $31.0860. Approximately 250,006 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 286,150 shares. The stock had previously closed at $29.26.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Park Aerospace from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $43.00 price objective on shares of Park Aerospace in a research note on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of Park Aerospace in a report on Tuesday, July 21st. Finally, Weiss Ratings downgraded Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Park Aerospace Trading Up 3.8%

The business has a 50 day moving average of $32.77 and a two-hundred day moving average of $32.98. The firm has a market cap of $660.55 million, a P/E ratio of 48.14 and a beta of 0.39.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings data 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. The company had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.95 million. Park Aerospace had a net margin of 16.70% and a return on equity of 10.75%.

Park Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Thursday, October 1st will be paid a $0.1250 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.50 annualized dividend and a yield of 1.6%. Park Aerospace’s payout ratio is 79.37%.

Insiders Place Their Bets

In other news, insider Constantine Petropoulos sold 2,500 shares of Park Aerospace 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 completion of the sale, the insider owned 2,500 shares of the company’s stock, valued at approximately $90,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Park Aerospace

Large investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC raised its holdings in Park Aerospace by 42.2% in the 2nd quarter. MCF Advisors LLC now owns 1,226 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 364 shares in the last quarter. Fifth Third Bancorp acquired a new stake in Park Aerospace during the first quarter worth about $64,000. Parvin Asset Management LLC increased its holdings in Park Aerospace by 11.4% in the 1st quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock valued at $133,000 after buying an additional 500 shares during the period. Group One Trading LLC bought a new stake in shares of Park Aerospace during the 2nd quarter worth approximately $135,000. Finally, Strs Ohio increased its stake in Park Aerospace by 15.9% in the first quarter. Strs Ohio now owns 5,100 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.

About Park Aerospace

Park Aerospace Corp. (NYSE:PKE) is an aerospace manufacturing company that develops and produces advanced composite materials and composite structures. Its products are used in the manufacture of aircraft and other aerospace systems, where lightweight, high-strength materials are important for performance and fuel efficiency.

The company’s offerings include carbon fiber and other composite materials, prepregs, film adhesives, honeycomb and other core materials, and fabricated composite parts.