Sigma Planning Corp Buys New Stake in Park Aerospace Corp. $PKE

Sigma Planning Corp purchased a new position in shares of Park Aerospace Corp. (NYSE:PKE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,072 shares of the semiconductor company’s stock, valued at approximately $823,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PKE. Strs Ohio increased its holdings in Park Aerospace by 18.9% in the fourth quarter. Strs Ohio now owns 4,400 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 700 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Park Aerospace by 50.0% in the second quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 726 shares during the period. ARS Investment Partners LLC boosted its stake in shares of Park Aerospace by 6.4% during the 4th quarter. ARS Investment Partners LLC now owns 13,085 shares of the semiconductor company’s stock worth $279,000 after acquiring an additional 782 shares in the last quarter. Kennedy Capital Management LLC grew its position in shares of Park Aerospace by 0.4% during the 4th quarter. Kennedy Capital Management LLC now owns 228,855 shares of the semiconductor company’s stock valued at $4,884,000 after acquiring an additional 920 shares during the period. Finally, Ethic Inc. grew its position in shares of Park Aerospace by 2.1% during the 4th quarter. Ethic Inc. now owns 46,376 shares of the semiconductor company’s stock valued at $990,000 after acquiring an additional 940 shares during the period. Institutional investors and hedge funds own 77.83% of the company’s stock.

Park Aerospace Stock Down 0.0%

PKE stock opened at $32.43 on Monday. The stock has a market capitalization of $677.10 million, a P/E ratio of 57.91 and a beta of 0.39. The firm has a 50-day simple moving average of $34.22 and a 200-day simple moving average of $29.76. Park Aerospace Corp. has a 52 week low of $17.25 and a 52 week high of $39.86.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $24.19 million for the quarter, compared to analyst estimates of $22.31 million. Park Aerospace had a net margin of 15.38% and a return on equity of 10.08%.

Park Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.5%. Park Aerospace’s dividend payout ratio is presently 89.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PKE shares. Citizens Jmp began coverage on Park Aerospace in a research note on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price target for the company. Needham & Company LLC assumed coverage on Park Aerospace in a report on Monday, July 13th. They issued a “buy” rating and a $43.00 price objective on the stock. Wall Street Zen lowered Park Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Weiss Ratings upgraded Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Finally, Citigroup initiated coverage on Park Aerospace in a research note on Tuesday, June 9th. They set an “outperform” rating for the company. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $42.50.

Park Aerospace Company 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.