Park Electrochemical Corp. (PKE) Announces Quarterly Earnings Results
Park Electrochemical Corp. (NYSE:PKE) released its quarterly earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.11. The firm earned $29.06 million during the quarter. Park Electrochemical Corp. had a net margin of 10.42% and a return on equity of 7.78%. During the same period in the previous year, the business earned $0.23 EPS.
Shares of Park Electrochemical Corp. (NYSE:PKE) opened at 15.00 on Monday. Park Electrochemical Corp. has a 1-year low of $13.65 and a 1-year high of $18.09. The company has a 50-day moving average price of $16.60 and a 200 day moving average price of $16.05. The company has a market capitalization of $303.51 million, a P/E ratio of 18.77 and a beta of 1.37.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $0.40 annualized dividend and a yield of 2.67%. Park Electrochemical Corp.’s dividend payout ratio (DPR) is presently 58.82%.
Several hedge funds have recently modified their holdings of the stock. Arizona State Retirement System increased its stake in Park Electrochemical Corp. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,522 shares of the company’s stock worth $153,000 after buying an additional 200 shares in the last quarter. Deere & Co. purchased a new stake in Park Electrochemical Corp. during the second quarter worth about $282,000. SECOR Capital Advisors LP increased its stake in Park Electrochemical Corp. by 30.6% in the second quarter. SECOR Capital Advisors LP now owns 19,485 shares of the company’s stock worth $283,000 after buying an additional 4,564 shares in the last quarter. US Bancorp DE increased its stake in Park Electrochemical Corp. by 1.8% in the second quarter. US Bancorp DE now owns 19,480 shares of the company’s stock worth $283,000 after buying an additional 351 shares in the last quarter. Finally, Walthausen & Co. LLC increased its stake in Park Electrochemical Corp. by 49.1% in the second quarter. Walthausen & Co. LLC now owns 24,280 shares of the company’s stock worth $353,000 after buying an additional 8,000 shares in the last quarter. 82.68% of the stock is owned by institutional investors.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Park Electrochemical Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Needham & Company LLC reduced their price target on Park Electrochemical Corp. from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, June 30th.
Park Electrochemical Corp. Company Profile
Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells 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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