Park Aerospace (NYSE:PKE) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Park Aerospace Corp. stock has surpassed its 200-day moving average of $16.45, trading at $19.76 and reaching a high of $20.06 recently.
• The company reported $0.12 earnings per share (EPS) for the quarter, an increase from $0.10 EPS in the same period last year, with revenue of $16.38 million.
• Park Aerospace recently declared a quarterly dividend of $0.125, resulting in an annualized yield of 2.5%, despite a payout ratio of 138.89%.

Park Aerospace Corp. (NYSE:PKE - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.45 and traded as high as $20.06. Park Aerospace shares last traded at $19.76, with a volume of 71,605 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Park Aerospace in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Park Aerospace Price Performance

The stock has a market capitalization of $393.36 million, a price-to-earnings ratio of 54.88 and a beta of 0.46. The business has a 50 day simple moving average of $19.42 and a 200-day simple moving average of $16.45.

Park Aerospace (NYSE:PKE - Get Free Report) last posted its earnings results on Thursday, October 9th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $16.38 million during the quarter. Park Aerospace had a return on equity of 7.97% and a net margin of 11.57%.During the same period in the previous year, the firm posted $0.10 earnings per share.

Park Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 1st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Park Aerospace's payout ratio is 138.89%.

Institutional Trading of Park Aerospace

A number of institutional investors have recently modified their holdings of PKE. Envestnet Asset Management Inc. lifted its holdings in shares of Park Aerospace by 33.9% in the first quarter. Envestnet Asset Management Inc. now owns 37,889 shares of the semiconductor company's stock valued at $510,000 after purchasing an additional 9,597 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Park Aerospace by 0.8% in the first quarter. Victory Capital Management Inc. now owns 180,944 shares of the semiconductor company's stock valued at $2,434,000 after purchasing an additional 1,450 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Park Aerospace by 5.9% in the first quarter. Private Advisor Group LLC now owns 18,561 shares of the semiconductor company's stock valued at $250,000 after purchasing an additional 1,033 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Park Aerospace in the first quarter valued at about $450,000. Finally, Townsquare Capital LLC lifted its holdings in shares of Park Aerospace by 10.4% in the first quarter. Townsquare Capital LLC now owns 21,707 shares of the semiconductor company's stock valued at $292,000 after purchasing an additional 2,041 shares in the last quarter. 77.83% of the stock is currently owned by 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.

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