StockNews.com Upgrades Park Aerospace (NYSE:PKE) to Buy

StockNews.com upgraded shares of Park Aerospace (NYSE:PKE) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Park Aerospace Stock Performance

Park Aerospace stock opened at $14.90 on Wednesday. The company has a market capitalization of $296.75 million, a PE ratio of 41.38 and a beta of 0.43. The company has a 50 day moving average price of $14.70 and a 200-day moving average price of $13.93. Park Aerospace has a fifty-two week low of $11.96 and a fifty-two week high of $16.96.

Park Aerospace (NYSE:PKE) last issued its earnings results on Tuesday, January 14th. The semiconductor company reported $0.08 earnings per share for the quarter. Park Aerospace had a return on equity of 7.02% and a net margin of 11.90%.

Park Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 4th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Friday, January 3rd. Park Aerospace’s dividend payout ratio (DPR) is 138.89%.

Institutional Investors Weigh In On Park Aerospace

Hedge funds have recently modified their holdings of the business. Brandes Investment Partners LP raised its stake in Park Aerospace by 12.0% in the second quarter. Brandes Investment Partners LP now owns 2,150,573 shares of the semiconductor company’s stock worth $29,256,000 after buying an additional 229,720 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Park Aerospace by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 661,134 shares of the semiconductor company’s stock worth $9,044,000 after acquiring an additional 5,933 shares in the last quarter. Foundation Resource Management Inc. lifted its stake in shares of Park Aerospace by 0.8% during the 4th quarter. Foundation Resource Management Inc. now owns 469,278 shares of the semiconductor company’s stock worth $6,875,000 after purchasing an additional 3,519 shares during the last quarter. Geode Capital Management LLC boosted its position in Park Aerospace by 1.3% during the third quarter. Geode Capital Management LLC now owns 422,116 shares of the semiconductor company’s stock valued at $5,502,000 after purchasing an additional 5,491 shares in the last quarter. Finally, Royce & Associates LP grew its stake in Park Aerospace by 94.9% in the third quarter. Royce & Associates LP now owns 371,673 shares of the semiconductor company’s stock valued at $4,843,000 after purchasing an additional 181,006 shares during the last quarter. Hedge funds and other institutional investors own 77.83% of the company’s stock.

About Park Aerospace

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.