Park Aerospace (NYSE:PKE) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Park Aerospace Corp. (NYSE:PKE) saw its shares surpass the 200-day moving average of $15.24, trading as high as $19.30 during recent trading sessions.
• The company announced a quarterly dividend of $0.125 per share, which will be paid on November 5th, 2023, representing an annualized yield of 2.6%.
• Park Aerospace has a market capitalization of $378.29 million and recently reported quarterly earnings of $0.10 per share with a revenue of $15.40 million.

Park Aerospace Corp. (NYSE:PKE - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.24 and traded as high as $19.30. Park Aerospace shares last traded at $19.05, with a volume of 110,564 shares traded.

Park Aerospace Stock Down 3.9%

The stock has a market capitalization of $377.84 million, a PE ratio of 55.96 and a beta of 0.45. The stock has a fifty day moving average of $18.44 and a 200-day moving average of $15.35.

Park Aerospace (NYSE:PKE - Get Free Report) last released its earnings results on Tuesday, July 15th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter. The firm 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 announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 1st will be issued a $0.125 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.50 dividend on an annualized basis and a yield of 2.6%. Park Aerospace's dividend payout ratio (DPR) is 147.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming purchased a new position in Park Aerospace in the second quarter valued at $211,000. Tower Research Capital LLC TRC lifted its holdings in Park Aerospace by 241.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company's stock worth $63,000 after buying an additional 3,024 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 726 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Park Aerospace by 81.9% during the 2nd quarter. Quantinno Capital Management LP now owns 22,788 shares of the semiconductor company's stock worth $337,000 after buying an additional 10,257 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Park Aerospace by 17.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 88,160 shares of the semiconductor company's stock worth $1,302,000 after buying an additional 12,979 shares during the last quarter. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

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.