BlackRock Inc. raised its holdings in Park Electrochemical Corp. (NYSE:PKE) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,664,796 shares of the semiconductor company’s stock after acquiring an additional 137,492 shares during the period. BlackRock Inc. owned approximately 13.16% of Park Electrochemical worth $61,798,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Piedmont Investment Advisors LLC purchased a new position in shares of Park Electrochemical during the 2nd quarter valued at about $103,000. Barclays PLC raised its holdings in shares of Park Electrochemical by 70.1% during the 1st quarter. Barclays PLC now owns 6,347 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 2,616 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Park Electrochemical during the 2nd quarter valued at about $201,000. SG Americas Securities LLC purchased a new position in shares of Park Electrochemical during the 2nd quarter valued at about $210,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Park Electrochemical during the 2nd quarter valued at about $224,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE PKE opened at $18.67 on Friday. The stock has a market cap of $394.57 million, a P/E ratio of 43.31 and a beta of 0.88. Park Electrochemical Corp. has a 1-year low of $16.45 and a 1-year high of $24.16.
Park Electrochemical (NYSE:PKE) last announced its quarterly earnings data on Thursday, October 4th. The semiconductor company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.12). The firm had revenue of $11.21 million for the quarter. Park Electrochemical had a net margin of 19.47% and a return on equity of 5.58%. During the same quarter last year, the company posted $0.12 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 6th. Investors of record on Tuesday, October 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, October 1st. This represents a $0.40 annualized dividend and a yield of 2.14%.
Separately, ValuEngine cut Park Electrochemical from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th.
About Park Electrochemical
Park Electrochemical Corp., through its subsidiaries, develops, manufactures, markets, and sells high-technology digital and radio frequency/microwave printed circuit material products primarily for the telecommunications and Internet infrastructure, enterprise, and military/aerospace markets. It also designs, develops, and manufactures advanced composite materials, primary and secondary structures and assemblies, and low-volume tooling products for the aerospace markets.
Read More: Initial Public Offering (IPO)
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