Comerica Bank Grows Stock Position in Park Aerospace Corp. $PKE

Key Points

• Comerica Bank increased its stake in Park Aerospace by 583.4% in the fourth quarter, buying an additional 31,420 shares and bringing its holding to 36,806 shares worth about $785,000.
• Other institutional investors also added to their positions, and hedge funds and institutions now own 77.83% of Park Aerospace’s stock.
• Park Aerospace recently paid a quarterly dividend of $0.125 per share, or $0.50 annualized, for a 1.5% yield, while analysts currently have a Buy consensus rating on the stock.

Comerica Bank boosted its position in Park Aerospace Corp. (NYSE:PKE - Free Report) by 583.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,806 shares of the semiconductor company's stock after purchasing an additional 31,420 shares during the quarter. Comerica Bank owned about 0.18% of Park Aerospace worth $785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Huntleigh Advisors Inc. raised its stake in Park Aerospace by 5.6% in the 4th quarter. Huntleigh Advisors Inc. now owns 58,472 shares of the semiconductor company's stock valued at $1,248,000 after purchasing an additional 3,096 shares during the last quarter. Round Rock Advisors LLC raised its stake in Park Aerospace by 64.5% in the 4th quarter. Round Rock Advisors LLC now owns 67,580 shares of the semiconductor company's stock valued at $1,442,000 after purchasing an additional 26,490 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Park Aerospace in the 4th quarter valued at about $72,000. Foundation Resource Management Inc. raised its stake in Park Aerospace by 0.6% in the 4th 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. Finally, Palisades Investment Partners LLC raised its stake in Park Aerospace by 10.8% in the 4th quarter. Palisades Investment Partners LLC now owns 321,745 shares of the semiconductor company's stock valued at $6,866,000 after purchasing an additional 31,492 shares during the last quarter. Institutional investors and hedge funds own 77.83% of the company's stock.

Park Aerospace Price Performance

NYSE PKE opened at $33.53 on Monday. Park Aerospace Corp. has a 12 month low of $12.07 and a 12 month high of $35.86. The company has a 50-day moving average of $29.88 and a 200-day moving average of $24.58. The company has a market cap of $668.25 million, a P/E ratio of 77.98 and a beta of 0.45.

Park Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Thursday, April 2nd were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.5%. Park Aerospace's dividend payout ratio is currently 116.28%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings raised shares of Park Aerospace from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 11th. Wall Street Zen raised shares of Park Aerospace from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

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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