Lazard Asset Management LLC Purchases Shares of 73,461 Park Aerospace Corp. $PKE

Key Points

• Lazard Asset Management purchased 73,461 Park Aerospace shares worth approximately $2.0 million, giving it a 0.37% stake. Institutional investors collectively own 77.83% of the company.
• Park Aerospace reported quarterly earnings of $0.17 per share, beating estimates by $0.03, while revenue of $18.31 million also exceeded expectations.
• Analysts maintain a generally positive outlook, with an average rating of Buy and a $42.50 price target versus the stock’s recent price of $33.89. The company also declared a quarterly dividend of $0.125 per share, yielding about 1.5% annually.

Lazard Asset Management LLC purchased a new stake in Park Aerospace Corp. (NYSE:PKE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 73,461 shares of the semiconductor company's stock, valued at approximately $2,011,000. Lazard Asset Management LLC owned approximately 0.37% of Park Aerospace as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Comerica Bank increased its position in Park Aerospace by 583.4% during the fourth quarter. Comerica Bank now owns 36,806 shares of the semiconductor company's stock worth $785,000 after buying an additional 31,420 shares during the period. Illumine Investment Management LLC acquired a new stake in shares of Park Aerospace in the first quarter valued at approximately $1,122,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Park Aerospace in the first quarter valued at approximately $873,000. Round Rock Advisors LLC grew its position in shares of Park Aerospace by 64.5% during the fourth quarter. Round Rock Advisors LLC now owns 67,580 shares of the semiconductor company's stock worth $1,442,000 after acquiring an additional 26,490 shares during the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Park Aerospace during the first quarter worth approximately $14,926,000. Institutional investors and hedge funds own 77.83% of the company's stock.

Insider Transactions at Park Aerospace

In other Park Aerospace 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 transaction of $90,000.00. Following the transaction, the insider owned 2,500 shares in the company, valued at approximately $90,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PKE. Needham & Company LLC reissued a "buy" rating and set a $43.00 price objective on shares of Park Aerospace in a research report on Tuesday, July 21st. Citigroup reaffirmed a "market outperform" rating on shares of Park Aerospace in a research note on Tuesday, July 21st. Wall Street Zen cut Park Aerospace from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 14th. Weiss Ratings raised Park Aerospace from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 1st. Finally, Citizens Jmp assumed coverage on Park Aerospace in a research note on Tuesday, June 9th. They issued a "market outperform" rating and a $42.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $42.50.

Park Aerospace Stock Performance

PKE stock opened at $33.89 on Monday. Park Aerospace Corp. has a one year low of $17.25 and a one year high of $39.86. The stock has a market capitalization of $737.18 million, a PE ratio of 53.80 and a beta of 0.39. The company has a fifty day moving average of $34.26 and a 200-day moving average of $30.59.

Park Aerospace (NYSE:PKE - Get Free Report) last issued its earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $18.31 million for 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 will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Park Aerospace's payout ratio is currently 79.37%.

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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