Park Aerospace (NYSE:PKE) Stock Price Passes Above Two Hundred 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 200-day moving average during trading on Wednesday . The stock has a 200-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 fifty day moving average price of $18.37 and a two-hundred day moving average price of $15.28. The company has a market cap of $377.76 million, a price-to-earnings ratio of 55.96 and a beta of 0.45.

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

Park Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 1st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, October 1st. Park Aerospace's payout ratio is presently 147.06%.

Hedge Funds Weigh In On Park Aerospace

Hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP grew its holdings in shares of Park Aerospace by 4.1% during the 2nd quarter. Brandes Investment Partners LP now owns 3,001,732 shares of the semiconductor company's stock worth $44,336,000 after purchasing an additional 118,384 shares in the last quarter. Wellington Management Group LLP bought a new stake in Park Aerospace during the first quarter worth about $1,021,000. Nuveen LLC acquired a new stake in Park Aerospace during the first quarter worth about $814,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Park Aerospace during the first quarter worth about $450,000. Finally, Los Angeles Capital Management LLC bought a new position in Park Aerospace in the 2nd quarter valued at about $426,000. Institutional investors own 77.83% of the company's stock.

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.