Wellington Management Group LLP Purchases New Stake in Park Aerospace Corp. $PKE

Key Points

• Wellington Management Group LLP has made a new investment of approximately $1.02 million in Park Aerospace Corp., acquiring 75,900 shares and representing a 0.38% ownership stake.
• Park Aerospace recently announced a quarterly dividend of $0.125 per share, translating to an annualized dividend yield of 2.7%, despite having a dividend payout ratio of 147.06%.
• Analyst ratings for Park Aerospace saw a downgrade from a "buy" to a "hold," indicating a cautious outlook on the company’s performance.

Wellington Management Group LLP bought a new stake in shares of Park Aerospace Corp. (NYSE:PKE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 75,900 shares of the semiconductor company's stock, valued at approximately $1,021,000. Wellington Management Group LLP owned approximately 0.38% of Park Aerospace at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in shares of Park Aerospace during the 4th quarter valued at approximately $47,000. Tower Research Capital LLC TRC lifted its stake in shares of Park Aerospace by 515.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,112 shares of the semiconductor company's stock valued at $75,000 after buying an additional 4,282 shares during the period. OLD National Bancorp IN purchased a new position in shares of Park Aerospace in the 1st quarter valued at $149,000. GAMMA Investing LLC increased its stake in Park Aerospace by 1,513.1% during the 1st quarter. GAMMA Investing LLC now owns 14,405 shares of the semiconductor company's stock worth $194,000 after buying an additional 13,512 shares during the period. Finally, Man Group plc acquired a new position in Park Aerospace during the 4th quarter valued at about $249,000. 77.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Park Aerospace from a "buy" rating to a "hold" rating in a research note on Monday, May 19th.

Park Aerospace Price Performance

Shares of PKE traded down $0.37 during trading hours on Friday, hitting $19.09. The company's stock had a trading volume of 35,854 shares, compared to its average volume of 81,795. The business has a 50 day simple moving average of $17.56 and a two-hundred day simple moving average of $14.92. The company has a market cap of $379.03 million, a price-to-earnings ratio of 56.07 and a beta of 0.45. Park Aerospace Corp. has a 52-week low of $11.97 and a 52-week high of $20.72.

Park Aerospace (NYSE:PKE - Get Free Report) last posted its earnings results on Tuesday, July 15th. The semiconductor company reported $0.10 EPS for the quarter. The firm had revenue of $15.40 million during the quarter. Park Aerospace had a net margin of 10.98% and a return on equity of 7.60%.

Park Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.6%. Park Aerospace's dividend payout ratio is presently 147.06%.

Park Aerospace Profile

Park Aerospace Corp., an aerospace company, develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the aerospace market in North America, Asia, and Europe. It offers advanced composite materials, including film adhesives and lightning strike protection materials that are used to produce primary and secondary structures for jet engines, large and regional transport aircrafts, military aircrafts, unmanned aerial vehicles, business jets, general aviation aircrafts, and rotary wing aircrafts.