Park Aerospace (NYSE:PKE) Insider Constantine Petropoulos Sells 2,500 Shares

Key Points

• Insider sale: Constantine Petropoulos sold 2,500 Park Aerospace shares at an average price of $36, generating $90,000 and reducing his direct ownership by 50% to 2,500 shares.
• Stock and earnings: PKE fell 5% to $34.28, while the company’s latest quarterly results beat expectations with EPS of $0.17 versus the $0.14 consensus and revenue of $18.31 million.
• Analyst outlook and dividend: Analysts maintain a consensus “Buy” rating with an average price target of $42.50. Park Aerospace declared a quarterly dividend of $0.125, equivalent to a 1.5% annual yield.

Park Aerospace Corp. (NYSE:PKE - Get Free Report) insider Constantine Petropoulos sold 2,500 shares of Park Aerospace stock in a transaction on Monday, July 27th. The shares were sold at an average price of $36.00, for a total value of $90,000.00. Following the completion of the sale, the insider directly owned 2,500 shares of the company's stock, valued at $90,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Park Aerospace Trading Down 5.0%

PKE traded down $1.80 during mid-day trading on Tuesday, hitting $34.28. 292,020 shares of the stock were exchanged, compared to its average volume of 303,404. The firm's fifty day moving average is $34.26 and its two-hundred day moving average is $30.29. Park Aerospace Corp. has a 1-year low of $17.25 and a 1-year high of $39.86. The company has a market cap of $745.62 million, a PE ratio of 54.41 and a beta of 0.39.

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

Park Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Park Aerospace's dividend payout ratio (DPR) is currently 79.37%.

Analyst Upgrades and Downgrades

PKE has been the subject of a number of recent research reports. Citizens Jmp assumed coverage on Park Aerospace in a report on Tuesday, June 9th. They issued a "market outperform" rating and a $42.00 target price 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. Wall Street Zen lowered shares of Park Aerospace from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Citigroup reaffirmed a "market outperform" rating on shares of Park Aerospace in a report on Tuesday, July 21st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $43.00 price target on shares of Park Aerospace in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $42.50.

Institutional Investors Weigh In On Park Aerospace

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Park Aerospace in the 4th quarter valued at about $25,000. BNP Paribas Financial Markets grew its position in Park Aerospace by 50.0% during the second 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 during the period. Jones Financial Companies Lllp purchased a new position in Park Aerospace in the first quarter valued at about $52,000. Tower Research Capital LLC TRC increased its holdings in Park Aerospace by 241.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company's stock valued at $63,000 after buying an additional 3,024 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Park Aerospace during the 1st quarter valued at approximately $64,000. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

About Park Aerospace

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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