Wellington Management Group LLP Buys Shares of 75,900 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 position in Park Aerospace Corp. (NYSE:PKE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PKE. BNP Paribas Financial Markets purchased a new position in Park Aerospace during the fourth quarter valued at approximately $47,000. Tower Research Capital LLC TRC grew its stake in 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 acquiring an additional 4,282 shares in the last quarter. OLD National Bancorp IN purchased a new position in Park Aerospace during the first quarter valued at approximately $149,000. GAMMA Investing LLC grew its stake in Park Aerospace by 1,513.1% during the first quarter. GAMMA Investing LLC now owns 14,405 shares of the semiconductor company's stock valued at $194,000 after acquiring an additional 13,512 shares in the last quarter. Finally, Man Group plc purchased a new position in Park Aerospace during the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 77.83% of the company's stock.

Park Aerospace Stock Up 0.2%

NYSE PKE traded up $0.04 during trading on Tuesday, hitting $18.78. 105,478 shares of the stock traded hands, compared to its average volume of 108,715. The company has a market capitalization of $372.93 million, a P/E ratio of 55.23 and a beta of 0.45. The firm has a 50-day simple moving average of $17.35 and a 200-day simple moving average of $14.86. Park Aerospace Corp. has a 12-month low of $11.97 and a 12-month high of $20.72.

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

Park Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.50 dividend on an annualized basis and a yield of 2.7%. Park Aerospace's dividend payout ratio is 147.06%.

Wall Street Analysts Forecast Growth

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

About Park Aerospace

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.