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

Park Aerospace Corp. (NYSE:PKE) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.51 and last traded at $27.7730, with a volume of 164427 shares changing hands. The stock had previously closed at $26.42.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PKE. Wall Street Zen raised shares of Park Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings cut Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Park Aerospace Trading Up 7.6%

The firm has a fifty day moving average price of $23.93 and a 200 day moving average price of $21.02. The firm has a market capitalization of $566.81 million, a price-to-earnings ratio of 66.15 and a beta of 0.29.

Park Aerospace (NYSE:PKE) last released its earnings results on Tuesday, January 13th. The semiconductor company reported $0.15 earnings per share for the quarter. The company had revenue of $17.33 million during the quarter. Park Aerospace had a return on equity of 9.28% and a net margin of 13.14%.

Park Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.125 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.50 annualized dividend and a yield of 1.8%. Park Aerospace’s payout ratio is currently 116.28%.

Hedge Funds Weigh In On Park Aerospace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PKE. Millennium Management LLC raised its holdings in shares of Park Aerospace by 64.4% in the fourth quarter. Millennium Management LLC now owns 110,831 shares of the semiconductor company’s stock valued at $2,365,000 after purchasing an additional 43,415 shares during the last quarter. AQR Capital Management LLC raised its holdings in Park Aerospace by 51.7% during the fourth quarter. AQR Capital Management LLC now owns 18,762 shares of the semiconductor company’s stock worth $400,000 after acquiring an additional 6,391 shares in the last quarter. Trexquant Investment LP acquired a new position in Park Aerospace during the fourth quarter valued at approximately $559,000. Price T Rowe Associates Inc. MD grew its stake in Park Aerospace by 11.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,238 shares of the semiconductor company’s stock valued at $1,094,000 after purchasing an additional 5,237 shares in the last quarter. Finally, &PARTNERS increased its position in shares of Park Aerospace by 5.8% during the 4th quarter. &PARTNERS now owns 21,623 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 1,194 shares during 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.