Sei Investments Co. Has $7.20 Million Stock Position in Park Aerospace Corp. $PKE

Key Points

• Sei Investments more than doubled its Park Aerospace position in the first quarter, increasing holdings by 116.2% to 263,034 shares worth approximately $7.2 million, or 1.32% of the company.
• Institutional investors own 77.83% of Park Aerospace, while an insider recently sold 2,500 shares for $90,000. Analysts maintain a generally positive outlook, with an average “Buy” rating and a $42.50 price target.
• Park Aerospace exceeded quarterly expectations, reporting adjusted EPS of $0.17 versus a $0.14 consensus estimate and revenue of $18.31 million. The company also declared a quarterly dividend of $0.125, representing a 1.5% yield.

Sei Investments Co. increased its holdings in shares of Park Aerospace Corp. (NYSE:PKE - Free Report) by 116.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 263,034 shares of the semiconductor company's stock after purchasing an additional 141,359 shares during the period. Sei Investments Co. owned 1.32% of Park Aerospace worth $7,202,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PKE. Strs Ohio lifted its position in shares of Park Aerospace by 18.9% in the fourth quarter. Strs Ohio now owns 4,400 shares of the semiconductor company's stock valued at $94,000 after buying an additional 700 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Park Aerospace by 50.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 726 shares during the period. ARS Investment Partners LLC increased its holdings in shares of Park Aerospace by 6.4% during the 4th quarter. ARS Investment Partners LLC now owns 13,085 shares of the semiconductor company's stock worth $279,000 after acquiring an additional 782 shares during the last quarter. Kennedy Capital Management LLC raised its stake 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 acquiring an additional 920 shares during the period. Finally, Ethic Inc. raised its stake 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 acquiring an additional 940 shares during the period. Institutional investors own 77.83% of the company's stock.

Insider Activity at Park Aerospace

In related news, insider Constantine Petropoulos sold 2,500 shares of the firm's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $36.00, for a total transaction of $90,000.00. Following the transaction, the insider directly owned 2,500 shares of the company's stock, valued at approximately $90,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.10% of the company's stock.

Analyst Upgrades and Downgrades

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

Park Aerospace Price Performance

PKE opened at $33.89 on Monday. The business has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $30.59. The company has a market capitalization of $737.18 million, a PE ratio of 53.80 and a beta of 0.39. Park Aerospace Corp. has a 1 year low of $17.25 and a 1 year high of $39.86.

Park Aerospace (NYSE:PKE - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The semiconductor company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The firm had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.95 million. Park Aerospace had a return on equity of 10.75% and a net margin of 16.70%.

Park Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 1st will be paid a $0.125 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.5%. Park Aerospace's dividend payout ratio is 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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