Park Electrochemical Corp. (PKE) Trading Down 1.9%
Shares of Park Electrochemical Corp. (NYSE:PKE) fell 1.9% during mid-day trading on Friday . The company traded as low as $16.65 and last traded at $16.70, with a volume of 52,526 shares changing hands. The stock had previously closed at $17.03.
A number of research firms have recently issued reports on PKE. Needham & Company LLC dropped their price objective on shares of Park Electrochemical Corp. from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Zacks Investment Research lowered shares of Park Electrochemical Corp. from a “hold” rating to a “strong sell” rating in a research note on Friday, May 6th.
The stock has a market cap of $337.91 million and a P/E ratio of 20.90. The stock’s 50 day moving average price is $16.00 and its 200-day moving average price is $15.39.
Park Electrochemical Corp. (NYSE:PKE) last issued its earnings results on Wednesday, June 29th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.07. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm earned $31.50 million during the quarter. Equities research analysts forecast that Park Electrochemical Corp. will post $0.80 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 3rd. Stockholders of record on Tuesday, July 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.40%.
Several hedge funds and institutional investors have modified their holdings of PKE. Gabelli Funds LLC increased its stake in Park Electrochemical Corp. by 3.1% in the fourth quarter. Gabelli Funds LLC now owns 331,000 shares of the company’s stock valued at $4,985,000 after buying an additional 10,000 shares during the period. Teton Advisors Inc. increased its stake in Park Electrochemical Corp. by 13.7% in the fourth quarter. Teton Advisors Inc. now owns 90,281 shares of the company’s stock valued at $1,360,000 after buying an additional 10,900 shares during the period. Gamco Investors INC. ET AL increased its stake in Park Electrochemical Corp. by 6.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 728,500 shares of the company’s stock valued at $10,971,000 after buying an additional 43,200 shares during the period. Morgan Stanley increased its stake in Park Electrochemical Corp. by 154.9% in the fourth quarter. Morgan Stanley now owns 71,385 shares of the company’s stock valued at $1,074,000 after buying an additional 43,381 shares during the period. Finally, Royce & Associates LLC increased its stake in Park Electrochemical Corp. by 6.5% in the fourth quarter. Royce & Associates LLC now owns 2,655,134 shares of the company’s stock valued at $39,986,000 after buying an additional 161,858 shares during the period.
Park Electrochemical Corp. (Park) is a global advanced materials company. The Company develops, manufactures, markets and sells high-technology digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low-volume tooling products for the aerospace markets.
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