Park Aerospace (NYSE:PKE) Shares Down 7.3% - Should You Sell?

Key Points

• Shares were down 7.3%, trading as low as $32.85 and last at $32.62 on volume of about 247,017 shares (13% below the average), with a market cap near $670 million and a P/E of 78.23; the 50‑day and 200‑day moving averages are $28.13 and $23.65 respectively.
• Analysts have recently upgraded the stock — Wall Street Zen moved to a strong‑buy and Weiss Ratings to a buy — and MarketBeat shows a consensus rating of Buy.
• Park Aerospace announced a quarterly dividend of $0.125 (annualized $0.50, ~1.5% yield; ex‑dividend April 2), but the payout ratio is a high 116.28%, suggesting potential sustainability concerns.

Shares of Park Aerospace Corp. (NYSE:PKE - Get Free Report) were down 7.3% on Wednesday . The stock traded as low as $32.85 and last traded at $32.6150. Approximately 247,017 shares traded hands during trading, a decline of 13% from the average daily volume of 284,788 shares. The stock had previously closed at $35.17.

Analyst Ratings Changes

Several analysts have weighed in on PKE shares. Wall Street Zen upgraded shares of Park Aerospace from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Weiss Ratings upgraded shares of Park Aerospace from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy".

Park Aerospace Stock Performance

The business's 50 day simple moving average is $28.13 and its 200-day simple moving average is $23.65. The stock has a market capitalization of $669.99 million, a price-to-earnings ratio of 78.23 and a beta of 0.29.

Park Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, April 2nd. Park Aerospace's payout ratio is presently 116.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PKE. Millennium Management LLC grew its position in Park Aerospace by 64.4% in the 4th quarter. Millennium Management LLC now owns 110,831 shares of the semiconductor company's stock valued at $2,365,000 after buying an additional 43,415 shares in the last quarter. AQR Capital Management LLC grew its position in Park Aerospace by 51.7% in the 4th quarter. AQR Capital Management LLC now owns 18,762 shares of the semiconductor company's stock valued at $400,000 after buying an additional 6,391 shares in the last quarter. Trexquant Investment LP bought a new position in Park Aerospace in the 4th quarter valued at about $559,000. Price T Rowe Associates Inc. MD grew its position in Park Aerospace by 11.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,238 shares of the semiconductor company's stock valued at $1,094,000 after buying an additional 5,237 shares in the last quarter. Finally, &PARTNERS grew its position in Park Aerospace by 5.8% in the 4th quarter. &PARTNERS now owns 21,623 shares of the semiconductor company's stock valued at $461,000 after buying an additional 1,194 shares in the last quarter. 77.83% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.