Park Aerospace (NYSE:PKE) Reaches New 1-Year High – Here’s What Happened

Shares of Park Aerospace Corp. (NYSE:PKE) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $36.63 and last traded at $36.58, with a volume of 16429 shares trading hands. The stock had previously closed at $34.60.

Analyst Upgrades and Downgrades

PKE has been the subject of several research analyst reports. Weiss Ratings raised shares of Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 11th. Wall Street Zen lowered shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Park Aerospace has a consensus rating of “Buy”.

Park Aerospace Trading Down 1.9%

The stock has a market capitalization of $711.82 million, a price-to-earnings ratio of 83.06 and a beta of 0.45. The stock’s 50 day moving average is $31.78 and its two-hundred day moving average is $26.04.

Park Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Thursday, April 2nd were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 1.4%. Park Aerospace’s dividend payout ratio is 116.28%.

Hedge Funds Weigh In On Park Aerospace

A number of large investors have recently bought and sold shares of PKE. Jones Financial Companies Lllp acquired a new position in Park Aerospace during the 1st quarter worth approximately $52,000. Jane Street Group LLC boosted its stake in shares of Park Aerospace by 11.4% during the 1st 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of Park Aerospace by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 439,194 shares of the semiconductor company’s stock worth $6,489,000 after buying an additional 7,342 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Park Aerospace by 161.0% during the 2nd quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company’s stock worth $69,000 after buying an additional 2,890 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Park Aerospace by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 30,657 shares of the semiconductor company’s stock worth $453,000 after buying an additional 1,421 shares during the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.

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.