Park Aerospace (NYSE:PKE) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Park Aerospace (NYSE:PKE) posted its earnings results on Monday. The semiconductor company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03, Zacks reports. Park Aerospace had a return on equity of 10.08% and a net margin of 15.38%.The business had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.95 million.

Park Aerospace Price Performance

PKE traded up $0.08 during trading on Monday, hitting $32.52. The stock had a trading volume of 267,915 shares, compared to its average volume of 297,571. The company has a 50 day moving average price of $34.22 and a 200-day moving average price of $29.76. The firm has a market cap of $678.93 million, a price-to-earnings ratio of 58.06 and a beta of 0.39. Park Aerospace has a one year low of $17.25 and a one year high of $39.86.

Park Aerospace Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Park Aerospace’s dividend payout ratio (DPR) is presently 89.29%.

Institutional Investors Weigh In On Park Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Park Aerospace by 64.4% during the fourth quarter. Millennium Management LLC now owns 110,831 shares of the semiconductor company’s stock worth $2,365,000 after buying an additional 43,415 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Park Aerospace by 51.7% in the fourth quarter. AQR Capital Management LLC now owns 18,762 shares of the semiconductor company’s stock valued at $400,000 after acquiring an additional 6,391 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Park Aerospace in the fourth quarter valued at about $559,000. Price T Rowe Associates Inc. MD increased its position in Park Aerospace by 11.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,238 shares of the semiconductor company’s stock worth $1,094,000 after acquiring an additional 5,237 shares during the period. Finally, &PARTNERS increased its position in Park Aerospace by 5.8% during the fourth quarter. &PARTNERS now owns 21,623 shares of the semiconductor company’s stock worth $461,000 after acquiring an additional 1,194 shares during the period. Institutional investors and hedge funds own 77.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup started coverage on 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 report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price objective on the stock. Needham & Company LLC started coverage on shares of Park Aerospace in a research report on Monday, July 13th. They issued a “buy” rating and a $43.00 price objective on the stock. Wall Street Zen cut shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. 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. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $42.50.

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.