Park Aerospace (NYSE:PKE) Downgraded by StockNews.com to “Hold”

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

Park Aerospace Stock Performance

Park Aerospace stock opened at $14.00 on Monday. The stock has a market capitalization of $278.95 million, a P/E ratio of 38.89 and a beta of 0.36. The company’s fifty day moving average price is $13.31 and its 200 day moving average price is $14.06. Park Aerospace has a 1 year low of $11.96 and a 1 year high of $15.57.

Park Aerospace (NYSE:PKE) last posted its quarterly earnings data on Thursday, May 15th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $16.94 million for the quarter. Park Aerospace had a net margin of 11.90% and a return on equity of 7.02%.

Park Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Wednesday, April 2nd were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $0.50 annualized dividend and a yield of 3.57%. Park Aerospace’s dividend payout ratio (DPR) is currently 172.41%.

Hedge Funds Weigh In On Park Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP lifted its holdings in Park Aerospace by 55.8% in the 4th quarter. Royce & Associates LP now owns 579,151 shares of the semiconductor company’s stock valued at $8,485,000 after purchasing an additional 207,478 shares in the last quarter. Brandes Investment Partners LP raised its position in shares of Park Aerospace by 4.4% in the fourth quarter. Brandes Investment Partners LP now owns 2,524,503 shares of the semiconductor company’s stock valued at $36,984,000 after buying an additional 107,447 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Park Aerospace in the first quarter worth about $1,021,000. Penn Capital Management Company LLC boosted its position in Park Aerospace by 71.0% during the fourth quarter. Penn Capital Management Company LLC now owns 164,638 shares of the semiconductor company’s stock worth $2,412,000 after acquiring an additional 68,337 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Park Aerospace during the 1st quarter valued at about $814,000. Hedge funds and other institutional investors own 77.83% of the company’s stock.

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.