Conestoga Capital Advisors LLC Acquires 20,331 Shares of Park Aerospace Corp. $PKE

Conestoga Capital Advisors LLC boosted its stake in shares of Park Aerospace Corp. (NYSE:PKE) by 41.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,816 shares of the semiconductor company’s stock after acquiring an additional 20,331 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.32% of Park Aerospace worth $2,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MCF Advisors LLC increased its position in Park Aerospace by 42.2% during the 2nd quarter. MCF Advisors LLC now owns 1,226 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 364 shares during the period. Parvin Asset Management LLC raised its stake in shares of Park Aerospace by 11.4% during the 1st quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock worth $133,000 after buying an additional 500 shares during the last quarter. Strs Ohio raised its position in Park Aerospace by 15.9% during the first quarter. Strs Ohio now owns 5,100 shares of the semiconductor company’s stock worth $140,000 after acquiring an additional 700 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Park Aerospace by 28.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,374 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 969 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its position in shares of Park Aerospace by 3.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 31,459 shares of the semiconductor company’s stock valued at $1,200,000 after acquiring an additional 1,128 shares in the last quarter. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Wall Street Analyst Weigh In

PKE has been the topic of several recent analyst reports. Citigroup reissued a “market outperform” rating on shares of Park Aerospace in a research note on Monday, October 19th. Citizens Jmp reissued a “market outperform” rating and issued a $42.00 target price on shares of Park Aerospace in a research note on Friday, October 9th. The Goldman Sachs Group upgraded shares of Park Aerospace to a “buy” rating in a report on Monday. Wall Street Zen cut shares of Park Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. Finally, Weiss Ratings upgraded shares of Park Aerospace from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, October 21st. Five investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.50.

Park Aerospace Trading Down 5.6%

PKE stock opened at $24.68 on Thursday. The company has a market capitalization of $543.81 million, a price-to-earnings ratio of 34.28 and a beta of 0.46. Park Aerospace Corp. has a 52 week low of $18.25 and a 52 week high of $39.86. The firm’s 50-day moving average is $28.99 and its two-hundred day moving average is $30.77.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings results on Thursday, October 8th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $20.79 million during the quarter, compared to analyst estimates of $20.01 million. Park Aerospace had a return on equity of 11.21% and a net margin of 18.42%.

Park Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 4th. Investors of record on Thursday, October 1st were paid a dividend of $0.1250 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.50 annualized dividend and a yield of 2.0%. Park Aerospace’s dividend payout ratio is currently 69.44%.

About Park Aerospace

Park Aerospace Corp. (NYSE:PKE) develops and manufactures advanced composite materials and composite structures primarily for the aerospace industry. Its products are used in commercial aircraft, military aircraft, unmanned aerial vehicles, and other demanding aerospace applications where lightweight construction, strength, and durability are important.

The company’s offerings include carbon-fiber and other composite prepregs, specialized reinforcement materials, honeycomb core materials, film adhesives, and related composite-material systems.