Park Aerospace (NYSE:PKE) Insider Constantine Petropoulos Sells 2,500 Shares

Park Aerospace Corp. (NYSE:PKE) insider Constantine Petropoulos sold 2,500 shares of the company’s 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 of the company’s stock, valued at $90,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Park Aerospace Price Performance

Shares of PKE stock opened at $34.28 on Wednesday. The stock’s 50-day moving average is $34.28 and its 200 day moving average is $30.38. Park Aerospace Corp. has a 1-year low of $17.25 and a 1-year high of $39.86. The company has a market cap of $745.59 million, a P/E ratio of 54.41 and a beta of 0.39.

Park Aerospace (NYSE:PKE) last announced its earnings results on Monday, July 20th. The semiconductor company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The business 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 will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st will be given a $0.125 dividend. The ex-dividend date of this dividend is 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%.

Wall Street Analyst Weigh In

PKE has been the subject of several recent analyst reports. Citizens Jmp started coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 target price for the company. Wall Street Zen downgraded Park Aerospace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Weiss Ratings upgraded Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of Park Aerospace in a research report on Tuesday, July 21st. Finally, Citigroup reissued a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $42.50.

Institutional Investors Weigh In On Park Aerospace

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of Park Aerospace by 128.0% in the 1st quarter. Bank of America Corp DE now owns 45,047 shares of the semiconductor company’s stock valued at $1,233,000 after acquiring an additional 25,288 shares during the period. Parvin Asset Management LLC lifted its position in Park Aerospace by 11.4% during the 1st quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock worth $133,000 after acquiring an additional 500 shares during the period. Royal Bank of Canada lifted its position in Park Aerospace by 24.3% during the 1st quarter. Royal Bank of Canada now owns 31,575 shares of the semiconductor company’s stock worth $864,000 after acquiring an additional 6,174 shares during the period. Quantinno Capital Management LP lifted its position in Park Aerospace by 31.1% during the 1st quarter. Quantinno Capital Management LP now owns 64,413 shares of the semiconductor company’s stock worth $1,764,000 after acquiring an additional 15,292 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Park Aerospace during the 1st quarter valued at about $2,011,000. 77.83% of the stock is currently owned by institutional investors and hedge funds.

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.