Park Aerospace (NYSE:PKE) Shares Gap Down – Should You Sell?

Park Aerospace Corp. (NYSE:PKE) shares gapped down before the market opened on Thursday . The stock had previously closed at $36.90, but opened at $35.36. Park Aerospace shares last traded at $34.64, with a volume of 11,405 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings lowered Park Aerospace from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. Citigroup reissued a “market outperform” rating on shares of Park Aerospace in a research note on Tuesday, July 21st. Needham & Company LLC restated a “buy” rating and set a $43.00 price objective on shares of Park Aerospace in a report on Tuesday, July 21st. Wall Street Zen lowered shares of Park Aerospace from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Citizens Jmp assumed coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 target price for the company. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Park Aerospace presently has an average rating of “Buy” and an average target price of $42.50.

Park Aerospace Stock Up 0.4%

The stock has a market capitalization of $740.37 million, a PE ratio of 54.03 and a beta of 0.41. The stock’s 50-day moving average is $35.06 and its 200 day moving average is $31.81.

Park Aerospace (NYSE:PKE) last released its earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $18.31 million during the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 1st were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, July 1st. Park Aerospace’s dividend payout ratio (DPR) is currently 79.37%.

Insider Transactions at Park Aerospace

In related 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Park Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parvin Asset Management LLC increased its holdings in Park Aerospace by 11.4% in the first quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock worth $133,000 after buying an additional 500 shares during the last quarter. Strs Ohio grew its position in Park Aerospace by 18.9% in the fourth quarter. Strs Ohio now owns 4,400 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 700 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Park Aerospace by 50.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 726 shares during the last quarter. ARS Investment Partners LLC raised its holdings in shares of Park Aerospace by 6.4% during the 4th quarter. ARS Investment Partners LLC now owns 13,085 shares of the semiconductor company’s stock valued at $279,000 after purchasing an additional 782 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in shares of Park Aerospace by 0.4% during the 4th quarter. Kennedy Capital Management LLC now owns 228,855 shares of the semiconductor company’s stock valued at $4,884,000 after purchasing an additional 920 shares in the last quarter. 77.83% of the stock is owned by hedge funds and other institutional investors.

About Park Aerospace

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.