Park Aerospace Corp. (NYSE:PKE – Get Free Report)’s share price rose 7.7% during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $34.36 and last traded at $34.37. Approximately 81,259 shares were traded during trading, a decline of 70% from the average daily volume of 272,580 shares. The stock had previously closed at $31.90.
The newly announced dividend which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.125 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.4%. Park Aerospace’s dividend payout ratio is 89.29%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on PKE shares. Citigroup started coverage on Park Aerospace in a report on Tuesday. They set an “outperform” rating for the company. Weiss Ratings upgraded Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Citizens Jmp started coverage on Park Aerospace in a research report on Tuesday. They set a “market outperform” rating and a $42.00 price target on the stock. Finally, Wall Street Zen upgraded Park Aerospace from a “buy” rating to a “strong-buy” rating in a report on Saturday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $42.00.
Park Aerospace Trading Up 8.6%
The company has a market cap of $723.07 million, a PE ratio of 61.06 and a beta of 0.42. The stock has a 50 day moving average price of $32.64 and a 200 day moving average price of $26.82.
Park Aerospace (NYSE:PKE – Get Free Report) last released its earnings results on Thursday, May 28th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $24.19 million during the quarter, compared to analysts’ expectations of $22.31 million. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in PKE. Jones Financial Companies Lllp purchased a new position in shares of Park Aerospace in the 1st quarter valued at approximately $52,000. Jane Street Group LLC lifted its stake in shares of Park Aerospace by 11.4% in the 1st quarter. Jane Street Group LLC now owns 14,205 shares of the semiconductor company’s stock valued at $191,000 after purchasing an additional 1,456 shares during the period. Geode Capital Management LLC lifted its stake in shares of Park Aerospace by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 439,194 shares of the semiconductor company’s stock valued at $6,489,000 after purchasing an additional 7,342 shares during the period. Legal & General Group Plc lifted its stake in shares of Park Aerospace by 161.0% in the 2nd quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 2,890 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Park Aerospace by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 30,657 shares of the semiconductor company’s stock valued at $453,000 after purchasing an additional 1,421 shares during the period. Hedge funds and other institutional investors own 77.83% 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.
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