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

Key Points

• Park Aerospace shares hit a new 52-week high, trading as high as $29.85 and last at $29.4260 on Tuesday with about 94,908 shares changing hands.
• Research firms recently upgraded PKE—Weiss Ratings to "buy (b-)" and Wall Street Zen to "strong-buy"—leaving the stock with an average analyst rating of "Buy".
• The company declared a quarterly dividend of $0.125 (annualized $0.50, ~1.7% yield), but the payout ratio is a high 116.28%, which may raise sustainability concerns.

Park Aerospace Corp. (NYSE:PKE - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.85 and last traded at $29.4260, with a volume of 94908 shares changing hands. The stock had previously closed at $29.01.

Analyst Ratings Changes

Several research firms have recently issued reports on PKE. 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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy".

Park Aerospace Price Performance

The firm's 50-day moving average is $26.32 and its two-hundred day moving average is $22.66. The company has a market cap of $586.96 million, a P/E ratio of 68.50 and a beta of 0.29.

Park Aerospace (NYSE:PKE - Get Free Report) last announced its quarterly earnings results on Tuesday, January 13th. The semiconductor company reported $0.15 earnings per share for the quarter. Park Aerospace had a net margin of 13.14% and a return on equity of 9.28%. The company had revenue of $17.33 million for the quarter.

Park Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Thursday, April 2nd will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, April 2nd. Park Aerospace's payout ratio is currently 116.28%.

Institutional Investors Weigh In On Park Aerospace

Several large investors have recently bought and sold shares of PKE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Park Aerospace in the fourth quarter worth $25,000. BNP Paribas Financial Markets increased 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 valued at $32,000 after acquiring an additional 726 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Park Aerospace during the first quarter valued at $52,000. Tower Research Capital LLC TRC increased its position in Park Aerospace by 241.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company's stock valued at $63,000 after acquiring an additional 3,024 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Park Aerospace by 161.0% during the second quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company's stock valued at $69,000 after acquiring an additional 2,890 shares during the last quarter. Institutional investors own 77.83% of the company's stock.

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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