Park Aerospace (NYSE:PKE) Downgraded by StockNews.com

StockNews.com downgraded shares of Park Aerospace (NYSE:PKE) from a buy rating to a hold rating in a report issued on Thursday.

Park Aerospace Stock Down 1.0 %

Shares of PKE stock opened at $14.05 on Thursday. 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 $284.55 million, a price-to-earnings ratio of 37.97 and a beta of 0.39. The firm has a fifty day moving average of $13.49 and a 200-day moving average of $13.70.

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. Park Aerospace had a net margin of 11.82% and a return on equity of 6.61%. The company had revenue of $16.71 million during the quarter.

Park Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Tuesday, October 1st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, October 1st. Park Aerospace’s dividend payout ratio (DPR) is 135.14%.

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. Quadrature Capital Ltd boosted its stake in Park Aerospace by 5.6% in the 4th quarter. Quadrature Capital Ltd now owns 11,949 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 630 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Park Aerospace in the 1st quarter worth $235,000. Heartland Advisors Inc. boosted its stake in Park Aerospace by 0.8% in the 1st quarter. Heartland Advisors Inc. now owns 897,667 shares of the semiconductor company’s stock worth $14,928,000 after purchasing an additional 6,818 shares during the period. Cove Street Capital LLC acquired a new position in Park Aerospace in the 1st quarter worth $5,941,000. Finally, Russell Investments Group Ltd. boosted its stake in Park Aerospace by 1,704.2% in the 1st quarter. Russell Investments Group Ltd. now owns 19,738 shares of the semiconductor company’s stock worth $328,000 after purchasing an additional 18,644 shares during the period. 77.83% of the stock is owned by institutional investors and hedge funds.

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.