Palisades Investment Partners LLC Invests $5.90 Million in Park Aerospace Corp. $PKE

Palisades Investment Partners LLC bought a new stake in shares of Park Aerospace Corp. (NYSE:PKE) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 290,253 shares of the semiconductor company’s stock, valued at approximately $5,904,000. Park Aerospace comprises approximately 2.3% of Palisades Investment Partners LLC’s investment portfolio, making the stock its 18th largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in Park Aerospace by 50.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 726 shares in the last quarter. Rhumbline Advisers increased its position in shares of Park Aerospace by 4.9% during the second quarter. Rhumbline Advisers now owns 30,657 shares of the semiconductor company’s stock valued at $453,000 after buying an additional 1,421 shares during the period. Jane Street Group LLC raised its stake in Park Aerospace by 11.4% in the first quarter. Jane Street Group LLC now owns 14,205 shares of the semiconductor company’s stock worth $191,000 after buying an additional 1,456 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Park Aerospace by 179.0% in the second quarter. First Horizon Advisors Inc. now owns 3,596 shares of the semiconductor company’s stock worth $53,000 after buying an additional 2,307 shares during the period. Finally, Legal & General Group Plc boosted its position in Park Aerospace by 161.0% during the 2nd quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 2,890 shares in the last quarter. 77.83% of the stock is owned by hedge funds and other institutional investors.

Park Aerospace Price Performance

Shares of PKE opened at $24.42 on Friday. Park Aerospace Corp. has a one year low of $11.97 and a one year high of $26.12. The business has a fifty day moving average of $21.38 and a 200 day moving average of $19.73. The firm has a market capitalization of $486.59 million, a P/E ratio of 56.78 and a beta of 0.31.

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

Park Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, January 2nd. Park Aerospace’s dividend payout ratio is currently 116.28%.

Analysts Set New Price Targets

PKE has been the subject of a number of research reports. Wall Street Zen upgraded Park Aerospace from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Weiss Ratings raised shares of Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Park Aerospace has an average rating of “Buy”.

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.