Park Aerospace Corp. $PKE Position Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in shares of Park Aerospace Corp. (NYSE:PKE) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 859,097 shares of the semiconductor company’s stock after acquiring an additional 19,057 shares during the period. Renaissance Technologies LLC’s holdings in Park Aerospace were worth $23,522,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Gabelli Funds LLC grew its stake in shares of Park Aerospace by 16.7% in the first quarter. Gabelli Funds LLC now owns 15,099 shares of the semiconductor company’s stock worth $413,000 after purchasing an additional 2,160 shares in the last quarter. Sei Investments Co. raised its stake in shares of Park Aerospace by 116.2% during the first quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company’s stock valued at $7,202,000 after purchasing an additional 141,359 shares in the last quarter. First Trust Advisors LP acquired a new stake in Park Aerospace in the first quarter worth about $342,000. Sigma Planning Corp acquired a new stake in Park Aerospace in the first quarter worth about $823,000. Finally, Illumine Investment Management LLC bought a new position in Park Aerospace in the 1st quarter valued at about $1,122,000. Institutional investors and hedge funds own 77.83% of the company’s stock.

Park Aerospace Trading Down 3.7%

Shares of Park Aerospace stock opened at $33.10 on Thursday. Park Aerospace Corp. has a 52 week low of $17.25 and a 52 week high of $39.86. The stock has a market cap of $719.92 million, a PE ratio of 52.54 and a beta of 0.39. The company’s 50-day moving average price is $34.26 and its two-hundred day moving average price is $30.44.

Park Aerospace (NYSE:PKE) last posted 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 during 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors 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 (DPR) is presently 79.37%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PKE. Citigroup restated a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Citizens Jmp began coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $42.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $43.00 target price on shares of Park Aerospace in a report on Tuesday, July 21st. Weiss Ratings upgraded Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Finally, Wall Street Zen lowered Park Aerospace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Park Aerospace presently has a consensus rating of “Buy” and a consensus target price of $42.50.

Insiders Place Their Bets

In other Park Aerospace news, insider Constantine Petropoulos sold 2,500 shares of Park Aerospace stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $36.00, for a total value of $90,000.00. Following the transaction, the insider owned 2,500 shares in the company, valued at approximately $90,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.