Park Aerospace (NYSE:PKE) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Park Aerospace (NYSE:PKE) from a hold rating to a buy rating in a research report released on Wednesday.

Park Aerospace Stock Up 9.3 %

Park Aerospace stock opened at $14.52 on Wednesday. Park Aerospace has a twelve month low of $11.96 and a twelve month high of $16.96. The company has a 50 day moving average of $13.24 and a 200-day moving average of $13.78. The stock has a market capitalization of $294.07 million, a PE ratio of 39.24 and a beta of 0.39.

Park Aerospace (NYSE:PKE) last released its earnings results on Tuesday, October 15th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $16.71 million during the quarter. Park Aerospace had a return on equity of 6.27% and a net margin of 12.15%.

Park Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Tuesday, October 1st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, October 1st. Park Aerospace’s dividend payout ratio is currently 135.14%.

Hedge Funds Weigh In On Park Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in PKE. Nisa Investment Advisors LLC raised its position in Park Aerospace by 166.8% during the second quarter. Nisa Investment Advisors LLC now owns 2,380 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,488 shares in the last quarter. Quadrature Capital Ltd raised its stake in Park Aerospace by 5.6% in the fourth quarter. Quadrature Capital Ltd now owns 11,949 shares of the semiconductor company’s stock valued at $176,000 after buying an additional 630 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Park Aerospace in the first quarter valued at approximately $235,000. State Board of Administration of Florida Retirement System bought a new position in shares of Park Aerospace during the 1st quarter worth approximately $245,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Park Aerospace by 1,704.2% during the 1st quarter. Russell Investments Group Ltd. now owns 19,738 shares of the semiconductor company’s stock worth $328,000 after acquiring an additional 18,644 shares during the last quarter. 77.83% of the stock is owned by institutional investors.

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.