Park Aerospace (NYSE:PKE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Park Aerospace (NYSE:PKE) from a hold rating to a buy rating in a research note issued to investors on Friday.

Park Aerospace Price Performance

Shares of PKE stock opened at $14.52 on Friday. Park Aerospace has a 12-month low of $11.96 and a 12-month high of $16.96. The firm has a market capitalization of $289.85 million, a price-to-earnings ratio of 42.71 and a beta of 0.42. The business has a 50 day simple moving average of $14.67 and a 200 day simple moving average of $13.78.

Park Aerospace (NYSE:PKE) last announced its quarterly earnings results on Tuesday, October 15th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $16.71 million during the quarter. Park Aerospace had a return on equity of 6.61% and a net margin of 11.82%.

Park Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 4th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.125 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.44%. Park Aerospace’s dividend payout ratio (DPR) is 147.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PKE. JPMorgan Chase & Co. lifted its position in Park Aerospace by 295.5% in the third quarter. JPMorgan Chase & Co. now owns 38,713 shares of the semiconductor company’s stock worth $504,000 after purchasing an additional 28,924 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Park Aerospace by 19.2% in the third quarter. Sanctuary Advisors LLC now owns 49,869 shares of the semiconductor company’s stock valued at $650,000 after buying an additional 8,045 shares during the period. Barclays PLC boosted its stake in Park Aerospace by 295.7% during the third quarter. Barclays PLC now owns 25,710 shares of the semiconductor company’s stock valued at $335,000 after buying an additional 19,213 shares in the last quarter. Geode Capital Management LLC boosted its stake in Park Aerospace by 1.3% during the third quarter. Geode Capital Management LLC now owns 422,116 shares of the semiconductor company’s stock valued at $5,502,000 after buying an additional 5,491 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Park Aerospace by 76.5% during the third quarter. Jane Street Group LLC now owns 30,057 shares of the semiconductor company’s stock worth $392,000 after acquiring an additional 13,024 shares during the period. 77.83% of the stock is currently owned by institutional investors.

Park Aerospace Company Profile

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.