Park Aerospace (NYSE:PKE) Reaches New 12-Month High – Here’s What Happened

Shares of Park Aerospace Corp. (NYSE:PKE) reached a new 52-week high during trading on Monday . The stock traded as high as $34.99 and last traded at $34.5360, with a volume of 511 shares traded. The stock had previously closed at $34.51.

Wall Street Analyst Weigh In

PKE has been the subject of several recent analyst reports. Wall Street Zen raised shares of Park Aerospace from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Weiss Ratings raised shares of Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

Park Aerospace Trading Down 1.0%

The company’s 50 day moving average price is $27.72 and its 200-day moving average price is $23.44. The company has a market capitalization of $680.91 million, a PE ratio of 79.47 and a beta of 0.29.

Park Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.125 per share. The ex-dividend date is Thursday, April 2nd. This represents a $0.50 annualized dividend and a dividend yield of 1.5%. Park Aerospace’s payout ratio is presently 116.28%.

Hedge Funds Weigh In On Park Aerospace

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of 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 in the last quarter. AQR Capital Management LLC grew its position in shares of 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 buying an additional 6,391 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Park Aerospace during the 4th quarter valued at about $559,000. Price T Rowe Associates Inc. MD grew its position in shares of Park Aerospace by 11.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,238 shares of the semiconductor company’s stock valued at $1,094,000 after buying an additional 5,237 shares during the last quarter. Finally, &PARTNERS grew its position in shares of Park Aerospace by 5.8% during the 4th quarter. &PARTNERS now owns 21,623 shares of the semiconductor company’s stock valued at $461,000 after buying an additional 1,194 shares during the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.

Park Aerospace Company Profile

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.