Park Electrochemical Corp. (PKE) Shares Down 2.5%
Park Electrochemical Corp. (NYSE:PKE) shares traded down 2.5% on Friday . The stock traded as low as $16.18 and last traded at $16.20, with a volume of 71,592 shares. The stock had previously closed at $16.62.
Several research analysts have weighed in on the company. Needham & Company LLC dropped their target price on Park Electrochemical Corp. from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Zacks Investment Research lowered Park Electrochemical Corp. from a “hold” rating to a “strong sell” rating in a research report on Friday, May 6th.
The company has a market capitalization of $327.79 million and a P/E ratio of 20.28. The stock has a 50 day moving average of $16.07 and a 200-day moving average of $15.52.
Park Electrochemical Corp. (NYSE:PKE) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The firm earned $31.50 million during the quarter. During the same period last year, the company posted $0.24 EPS. Analysts expect that Park Electrochemical Corp. will post $0.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 3rd. Stockholders of record on Tuesday, July 5th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.47%.
Several hedge funds and institutional investors recently bought and sold shares of PKE. Dimensional Fund Advisors LP raised its position in Park Electrochemical Corp. by 22.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 925,534 shares of the company’s stock valued at $13,939,000 after buying an additional 168,649 shares in the last quarter. Royce & Associates LLC raised its position 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 in the last quarter. Morgan Stanley raised its position 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 in the last quarter. Finally, Gabelli Funds LLC raised its position 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 in the last quarter.
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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