Dimensional Fund Advisors LP Reduces Holdings in Park Aerospace Corp. $PKE

Key Points

• Dimensional Fund Advisors cut its Park Aerospace stake by 24.5% in the first quarter, selling 165,077 shares and retaining 509,318 shares worth approximately $13.9 million. Institutional investors collectively own 77.83% of the company.
• Analysts remain broadly positive, with four Buy ratings, a consensus rating of Buy, and an average price target of $42.50 versus the reported share price of $37.59.
• Park Aerospace exceeded quarterly expectations, reporting earnings of $0.17 per share and revenue of $18.31 million. The company also paid a quarterly dividend of $0.125, equivalent to a $0.50 annualized dividend and a 1.3% yield.

Dimensional Fund Advisors LP reduced its position in shares of Park Aerospace Corp. (NYSE:PKE - Free Report) by 24.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 509,318 shares of the semiconductor company's stock after selling 165,077 shares during the period. Dimensional Fund Advisors LP owned about 2.56% of Park Aerospace worth $13,945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PKE. Strs Ohio grew its holdings in Park Aerospace by 18.9% during the 4th quarter. Strs Ohio now owns 4,400 shares of the semiconductor company's stock valued at $94,000 after purchasing an additional 700 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Park Aerospace by 50.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company's stock worth $32,000 after buying an additional 726 shares in the last quarter. ARS Investment Partners LLC boosted its position in Park Aerospace by 6.4% in the 4th quarter. ARS Investment Partners LLC now owns 13,085 shares of the semiconductor company's stock valued at $279,000 after buying an additional 782 shares during the last quarter. Kennedy Capital Management LLC boosted its position in Park Aerospace by 0.4% in the 4th quarter. Kennedy Capital Management LLC now owns 228,855 shares of the semiconductor company's stock valued at $4,884,000 after buying an additional 920 shares during the last quarter. Finally, Ethic Inc. boosted its position in Park Aerospace by 2.1% in the 4th quarter. Ethic Inc. now owns 46,376 shares of the semiconductor company's stock valued at $990,000 after buying an additional 940 shares during the last quarter. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PKE. Needham & Company LLC reaffirmed a "buy" rating and set a $43.00 target price on shares of Park Aerospace in a research report on Tuesday, July 21st. Citizens Jmp initiated 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. Weiss Ratings upgraded Park Aerospace from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 1st. Citigroup restated a "market outperform" rating on shares of Park Aerospace in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded Park Aerospace from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $42.50.

Park Aerospace Price Performance

NYSE PKE opened at $37.59 on Friday. The company has a market capitalization of $817.47 million, a price-to-earnings ratio of 59.66 and a beta of 0.41. Park Aerospace Corp. has a 12 month low of $17.25 and a 12 month high of $39.86. The company's fifty day moving average price is $34.48 and its two-hundred day moving average price is $30.98.

Park Aerospace (NYSE:PKE - Get Free Report) last released its earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The company 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 company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 1st were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Park Aerospace's payout ratio is currently 79.37%.

Insiders Place Their Bets

In other Park Aerospace news, insider Constantine Petropoulos sold 2,500 shares of the company'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 transaction of $90,000.00. Following the sale, the insider owned 2,500 shares in the company, valued at $90,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 7.10% of the stock is currently owned by corporate insiders.

Park Aerospace 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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