Y Intercept Hong Kong Ltd Makes New Investment in Park Aerospace Corp. $PKE

Y Intercept Hong Kong Ltd bought a new stake in Park Aerospace Corp. (NYSE:PKE) during the first quarter, HoldingsChannel reports. The firm bought 31,880 shares of the semiconductor company’s stock, valued at approximately $873,000.

Several other large investors have also modified their holdings of the stock. Brandes Investment Partners LP grew its stake in Park Aerospace by 3.5% in the fourth quarter. Brandes Investment Partners LP now owns 3,191,411 shares of the semiconductor company’s stock worth $68,105,000 after purchasing an additional 107,231 shares in the last quarter. Next Century Growth Investors LLC grew its holdings in shares of Park Aerospace by 93.0% during 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 during the last quarter. Foundation Resource Management Inc. grew its holdings in shares of Park Aerospace by 0.6% during the fourth quarter. Foundation Resource Management Inc. now owns 503,497 shares of the semiconductor company’s stock valued at $10,745,000 after purchasing an additional 3,004 shares during the last quarter. State Street Corp raised its position in shares of Park Aerospace by 1.4% during the 4th quarter. State Street Corp now owns 471,089 shares of the semiconductor company’s stock worth $10,053,000 after purchasing an additional 6,434 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Park Aerospace by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 439,194 shares of the semiconductor company’s stock worth $6,489,000 after purchasing an additional 7,342 shares during the period. Institutional investors own 77.83% of the company’s stock.

Park Aerospace Price Performance

Shares of NYSE:PKE opened at $33.64 on Monday. The stock has a market cap of $702.42 million, a price-to-earnings ratio of 60.08 and a beta of 0.39. Park Aerospace Corp. has a 12 month low of $15.00 and a 12 month high of $39.86. The stock’s 50 day moving average price is $34.30 and its 200 day moving average price is $29.35.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.The firm had revenue of $24.19 million during the quarter, compared to analyst estimates of $22.31 million.

Park Aerospace Announces Dividend

The company 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 of this dividend is Wednesday, July 1st. Park Aerospace’s payout ratio is presently 89.29%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen downgraded Park Aerospace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Citigroup initiated coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They set an “outperform” rating for the company. Citizens Jmp started coverage on shares of Park Aerospace in a research report on Tuesday, June 9th. They set a “market outperform” rating and a $42.00 price target for the company. Finally, Weiss Ratings raised shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Park Aerospace presently has an average rating of “Buy” and a consensus target price of $42.00.

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.