State of Wyoming Purchases New Position in Park Aerospace Corp. $PKE

State of Wyoming purchased a new stake in Park Aerospace Corp. (NYSE:PKE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,370 shares of the semiconductor company’s stock, valued at approximately $1,083,000. State of Wyoming owned about 0.13% of Park Aerospace as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Park Aerospace by 128.0% during the 1st quarter. Bank of America Corp DE now owns 45,047 shares of the semiconductor company’s stock worth $1,233,000 after buying an additional 25,288 shares during the last quarter. Parvin Asset Management LLC grew its position in shares of Park Aerospace by 11.4% in the 1st quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock valued at $133,000 after buying an additional 500 shares during the last quarter. Royal Bank of Canada grew its position in shares of Park Aerospace by 24.3% in the 1st quarter. Royal Bank of Canada now owns 31,575 shares of the semiconductor company’s stock valued at $864,000 after buying an additional 6,174 shares during the last quarter. Quantinno Capital Management LP raised its stake in Park Aerospace by 31.1% during the 1st quarter. Quantinno Capital Management LP now owns 64,413 shares of the semiconductor company’s stock worth $1,764,000 after acquiring an additional 15,292 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Park Aerospace in the first quarter valued at $2,011,000. Institutional investors and hedge funds own 77.83% of the company’s stock.

Insider Buying and Selling at Park Aerospace

In other news, insider Constantine Petropoulos sold 2,500 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $36.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider owned 2,500 shares in the company, valued at approximately $90,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.10% of the company’s stock.

Park Aerospace Price Performance

Shares of Park Aerospace stock opened at $38.27 on Friday. The firm’s fifty day simple moving average is $34.93 and its 200-day simple moving average is $31.41. Park Aerospace Corp. has a 12 month low of $17.25 and a 12 month high of $39.86. The stock has a market capitalization of $832.37 million, a price-to-earnings ratio of 60.75 and a beta of 0.41.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Park Aerospace had a net margin of 16.70% and a return on equity of 10.75%. The firm had revenue of $18.31 million during the quarter, compared to analysts’ expectations of $17.95 million.

Park Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Park Aerospace’s dividend payout ratio is presently 79.37%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PKE. Wall Street Zen downgraded shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Citigroup reiterated a “market outperform” rating on shares of Park Aerospace in a research report on Tuesday, July 21st. Weiss Ratings downgraded Park Aerospace from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of Park Aerospace in a research report on Tuesday, July 21st. Finally, Citizens Jmp began coverage on Park Aerospace in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $42.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Park Aerospace currently has an average rating of “Buy” and an average price target of $42.50.

Park Aerospace 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.