Park Aerospace (NYSE:PKE) Sets New 12-Month High – Here’s What Happened

Park Aerospace Corp. (NYSE:PKE) reached a new 52-week high during trading on Tuesday . The company traded as high as $25.42 and last traded at $25.3450, with a volume of 149004 shares traded. The stock had previously closed at $23.94.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Park Aerospace Stock Down 3.0%

The firm has a market capitalization of $462.17 million, a PE ratio of 64.48 and a beta of 0.31. The firm’s 50-day moving average price is $20.37 and its two-hundred day moving average price is $19.16.

Park Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, January 2nd. Park Aerospace’s payout ratio is 138.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in Park Aerospace by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 726 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Park Aerospace in the 1st quarter valued at about $52,000. First Horizon Advisors Inc. increased its holdings in shares of Park Aerospace by 179.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,596 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,307 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Park Aerospace by 241.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 3,024 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Park Aerospace by 161.0% during the second quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 2,890 shares during the period. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Park Aerospace Company Profile

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.