BlackRock Inc. Takes Position in Park Aerospace Corp. $PKE

Key Points

• BlackRock acquired 1.45 million shares of Park Aerospace during the second quarter, worth about $55.2 million and representing a 6.65% stake. Institutional investors collectively own 77.83% of the company.
• Analysts remain broadly positive, with an average “Buy” rating and a $42.50 price target; ratings include market outperform and buy recommendations, alongside one downgrade to hold.
• Park Aerospace exceeded quarterly expectations, reporting $0.17 in earnings per share and $18.31 million in revenue. The company also maintains a $0.125 quarterly dividend, equivalent to a 1.5% yield.

BlackRock Inc. bought a new stake in Park Aerospace Corp. (NYSE:PKE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,446,721 shares of the semiconductor company's stock, valued at approximately $55,207,000. BlackRock Inc. owned about 6.65% of Park Aerospace at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PKE. Stephens Investment Management Group LLC acquired a new stake in shares of Park Aerospace in the first quarter worth $14,926,000. Next Century Growth Investors LLC lifted its holdings in shares of Park Aerospace by 93.0% during the 4th quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company's stock valued at $11,226,000 after acquiring an additional 253,508 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Park Aerospace during the 2nd quarter worth $7,639,000. Sei Investments Co. boosted its position in Park Aerospace by 116.2% during the 1st quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company's stock worth $7,202,000 after purchasing an additional 141,359 shares during the period. Finally, Brandes Investment Partners LP increased its holdings in Park Aerospace by 3.5% in the 4th quarter. Brandes Investment Partners LP now owns 3,191,411 shares of the semiconductor company's stock valued at $68,105,000 after purchasing an additional 107,231 shares in the last quarter. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PKE shares. Citigroup reaffirmed a "market outperform" rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Wall Street Zen downgraded Park Aerospace from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Weiss Ratings raised Park Aerospace from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Citizens Jmp began coverage on Park Aerospace in a report on Tuesday, June 9th. They issued a "market outperform" rating and a $42.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $43.00 price objective on shares of Park Aerospace in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $42.50.

Park Aerospace Stock Performance

Shares of Park Aerospace stock opened at $32.56 on Tuesday. The firm has a market cap of $708.18 million, a PE ratio of 51.68 and a beta of 0.41. The firm's 50-day simple moving average is $35.06 and its 200-day simple moving average is $32.21. Park Aerospace Corp. has a 1 year low of $18.19 and a 1 year high of $39.86.

Park Aerospace (NYSE:PKE - Get Free Report) last posted its quarterly 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. Park Aerospace had a return on equity of 10.75% and a net margin of 16.70%.The business had revenue of $18.31 million during the quarter, compared to the consensus estimate of $17.95 million.

Park Aerospace Announces Dividend

The company also recently announced 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 was Wednesday, July 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.5%. Park Aerospace's dividend payout ratio (DPR) is presently 79.37%.

Insider Buying and Selling at Park Aerospace

In other news, insider Constantine Petropoulos sold 2,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 2,500 shares in the company, valued at approximately $90,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.10% 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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