Sanctuary Advisors LLC Buys New Shares in Park Aerospace Corp. $PKE

Sanctuary Advisors LLC purchased a new stake in Park Aerospace Corp. (NYSE:PKE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,054 shares of the semiconductor company’s stock, valued at approximately $765,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brandes Investment Partners LP grew its holdings in shares of Park Aerospace by 3.5% in the 4th quarter. Brandes Investment Partners LP now owns 3,191,411 shares of the semiconductor company’s stock valued at $68,105,000 after acquiring an additional 107,231 shares in the last quarter. BlackRock Inc. bought a new stake in Park Aerospace during the second quarter worth about $55,207,000. Renaissance Technologies LLC boosted its position in Park Aerospace by 2.3% during the first quarter. Renaissance Technologies LLC now owns 859,097 shares of the semiconductor company’s stock valued at $23,522,000 after purchasing an additional 19,057 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in Park Aerospace during the first quarter valued at approximately $14,926,000. Finally, Next Century Growth Investors LLC grew its stake in Park Aerospace by 93.0% in the fourth quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company’s stock valued at $11,226,000 after purchasing an additional 253,508 shares in the last quarter. 77.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Park Aerospace

In related 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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company’s stock.

Analyst Ratings Changes

PKE has been the topic of several recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Citizens Jmp initiated coverage on Park Aerospace in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price objective for the company. Weiss Ratings raised shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Wall Street Zen downgraded shares of Park Aerospace from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of Park Aerospace in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $42.50.

Park Aerospace Stock Performance

Park Aerospace stock opened at $32.45 on Friday. Park Aerospace Corp. has a 52 week low of $18.19 and a 52 week high of $39.86. The stock has a market capitalization of $705.79 million, a P/E ratio of 51.51 and a beta of 0.41. The stock has a 50-day simple moving average of $35.07 and a 200 day simple moving average of $32.11.

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

Park Aerospace Dividend Announcement

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

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.