Park Aerospace (NYSE:PKE) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Park Aerospace (NYSE:PKEGet Free Report) released its earnings results on Monday. The semiconductor company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03, Zacks reports. Park Aerospace had a net margin of 15.38% and a return on equity of 10.08%.

Park Aerospace Trading Up 0.2%

PKE traded up $0.08 during trading on Monday, reaching $32.52. 255,731 shares of the company were exchanged, compared to its average volume of 296,961. Park Aerospace has a 52 week low of $17.25 and a 52 week high of $39.86. The firm has a 50 day moving average of $34.22 and a 200 day moving average of $29.76. The stock has a market cap of $678.93 million, a P/E ratio of 58.06 and a beta of 0.39.

Park Aerospace Dividend Announcement

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

Institutional Trading of Park Aerospace

A number of large investors have recently modified their holdings of PKE. Millennium Management LLC lifted its position in Park Aerospace by 64.4% in the 4th quarter. Millennium Management LLC now owns 110,831 shares of the semiconductor company’s stock valued at $2,365,000 after purchasing an additional 43,415 shares during the last quarter. AQR Capital Management LLC boosted its stake in Park Aerospace by 51.7% during the 4th quarter. AQR Capital Management LLC now owns 18,762 shares of the semiconductor company’s stock valued at $400,000 after purchasing an additional 6,391 shares during the period. Trexquant Investment LP bought a new position in Park Aerospace in the 4th quarter worth about $559,000. Price T Rowe Associates Inc. MD grew its position in Park Aerospace by 11.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,238 shares of the semiconductor company’s stock worth $1,094,000 after purchasing an additional 5,237 shares during the last quarter. Finally, &PARTNERS increased its stake in shares of Park Aerospace by 5.8% in the fourth quarter. &PARTNERS now owns 21,623 shares of the semiconductor company’s stock valued at $461,000 after purchasing an additional 1,194 shares during the period. Institutional investors and hedge funds own 77.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Read Our Latest Report on PKE

About Park Aerospace

(Get Free Report)

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.

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Earnings History for Park Aerospace (NYSE:PKE)

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