Park Aerospace (NYSE:PKE) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Park Aerospace (NYSE:PKE) from a buy rating to a hold rating in a research note published on Tuesday.

Park Aerospace Trading Up 1.9 %

NYSE PKE opened at $14.24 on Tuesday. The company has a fifty day simple moving average of $14.72 and a 200 day simple moving average of $13.87. The company has a market cap of $284.26 million, a P/E ratio of 41.88 and a beta of 0.43. Park Aerospace has a 1 year low of $11.96 and a 1 year high of $16.96.

Park Aerospace (NYSE:PKE) last released its earnings results on Tuesday, January 14th. The semiconductor company reported $0.08 EPS for the quarter. Park Aerospace had a net margin of 11.82% and a return on equity of 6.61%.

Park Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 4th. Investors of record on Friday, January 3rd will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Friday, January 3rd. Park Aerospace’s payout ratio is currently 147.06%.

Hedge Funds Weigh In On Park Aerospace

Several large investors have recently bought and sold shares of PKE. Brandes Investment Partners LP raised its stake in Park Aerospace by 12.0% during the 2nd quarter. Brandes Investment Partners LP now owns 2,150,573 shares of the semiconductor company’s stock valued at $29,256,000 after purchasing an additional 229,720 shares during the last quarter. Royce & Associates LP raised its stake in shares of Park Aerospace by 94.9% in the 3rd quarter. Royce & Associates LP now owns 371,673 shares of the semiconductor company’s stock valued at $4,843,000 after buying an additional 181,006 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Park Aerospace in the 2nd quarter valued at $617,000. Marshall Wace LLP acquired a new position in shares of Park Aerospace in the 2nd quarter valued at $543,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Park Aerospace by 295.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,713 shares of the semiconductor company’s stock valued at $504,000 after buying an additional 28,924 shares in the last quarter. 77.83% of the stock is currently owned by institutional investors and hedge funds.

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.