200,190 Shares in Park Aerospace Corp. $PKE Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 200,190 shares of Park Aerospace in the second quarter, worth approximately $7.6 million and representing about 0.92% of the company. Institutional investors collectively own 77.83% of the stock.
• Park Aerospace exceeded quarterly expectations, reporting earnings per share of $0.17 versus the $0.14 consensus estimate and revenue of $18.31 million. The company also paid a quarterly dividend of $0.125 per share, implying a 1.6% yield.
• Analyst sentiment remains generally positive, with an average “Buy” rating and a $42.50 price target, although one analyst downgraded the stock to “Hold.” An insider separately sold 2,500 shares for $90,000.

Bank of New York Mellon Corp acquired a new stake in shares of Park Aerospace Corp. (NYSE:PKE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 200,190 shares of the semiconductor company's stock, valued at approximately $7,639,000. Bank of New York Mellon Corp owned approximately 0.92% of Park Aerospace at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Stephens Investment Management Group LLC acquired a new position in Park Aerospace during the first quarter worth about $14,926,000. Next Century Growth Investors LLC boosted its position 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 buying an additional 253,508 shares in the last quarter. Sei Investments Co. grew its stake in shares of Park Aerospace by 116.2% during the first quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company's stock worth $7,202,000 after buying an additional 141,359 shares during the last quarter. Brandes Investment Partners LP grew its stake in shares of Park Aerospace by 3.5% during the fourth quarter. Brandes Investment Partners LP now owns 3,191,411 shares of the semiconductor company's stock worth $68,105,000 after buying an additional 107,231 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Park Aerospace by 257.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 112,272 shares of the semiconductor company's stock worth $2,396,000 after buying an additional 80,841 shares in the last quarter. 77.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Constantine Petropoulos sold 2,500 shares of the business's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $36.00, for a total value of $90,000.00. Following the transaction, the insider directly owned 2,500 shares of the company's stock, valued at $90,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.10% of the stock is owned by corporate insiders.

Park Aerospace Stock Performance

Shares of NYSE PKE opened at $30.71 on Friday. The company's 50 day moving average price is $35.01 and its 200-day moving average price is $32.37. Park Aerospace Corp. has a 52-week low of $18.19 and a 52-week high of $39.86. The company has a market capitalization of $667.94 million, a P/E ratio of 48.75 and a beta of 0.40.

Park Aerospace (NYSE:PKE - Get Free Report) last announced its earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.6%. Park Aerospace's dividend payout ratio (DPR) is 79.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citizens Jmp initiated coverage on Park Aerospace in a report on Tuesday, June 9th. They set a "market outperform" rating and a $42.00 price target on the stock. Wall Street Zen downgraded shares of Park Aerospace from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Citigroup reissued a "market outperform" rating on shares of Park Aerospace in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Park Aerospace from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set 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 MarketBeat, the company presently has an average rating of "Buy" and an average target price 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.

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