Park Aerospace (NYSE:PKE) Reaches New 12-Month High - Here's What Happened

Key Points

• Shares of Park Aerospace hit a new 52-week high of $34.99 Monday, last trading near $34.54 on light volume, with a market cap around $681 million and rising moving averages.
• Analysts have recently upgraded the stock—Weiss Ratings to "buy" and Wall Street Zen to "strong‑buy"—and the MarketBeat consensus rating is Buy.
• The company declared a quarterly dividend of $0.125 per share (annualized $0.50, 1.5% yield), payable May 4 with an ex-dividend date of April 2, but the payout ratio is a high 116.28%.

Shares of Park Aerospace Corp. (NYSE:PKE - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $34.99 and last traded at $34.5360, with a volume of 511 shares changing hands. The stock had previously closed at $34.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Park Aerospace from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, March 11th. Wall Street Zen upgraded shares of Park Aerospace from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy".

Park Aerospace Stock Performance

The stock has a market capitalization of $680.91 million, a price-to-earnings ratio of 79.47 and a beta of 0.29. The company has a 50-day moving average of $27.72 and a 200-day moving average of $23.44.

Park Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Thursday, April 2nd will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Thursday, April 2nd. Park Aerospace's payout ratio is currently 116.28%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Strs Ohio raised its position in shares of Park Aerospace by 18.9% during the 4th quarter. Strs Ohio now owns 4,400 shares of the semiconductor company's stock worth $94,000 after purchasing an additional 700 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 purchasing an additional 726 shares during the last quarter. ARS Investment Partners LLC raised its position 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 purchasing an additional 782 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Park Aerospace by 0.4% during the 4th quarter. Kennedy Capital Management LLC now owns 228,855 shares of the semiconductor company's stock worth $4,884,000 after purchasing an additional 920 shares during the last quarter. Finally, Ethic Inc. grew 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 worth $990,000 after acquiring an additional 940 shares during the period. 77.83% of the stock is currently owned by institutional investors and hedge funds.

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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