Park Aerospace (NYSE:PKE) Shares Down 14.2% – Here’s What Happened

Park Aerospace Corp. (NYSE:PKE)’s share price fell 14.2% during mid-day trading on Friday . The company traded as low as $30.53 and last traded at $31.2310. 121,972 shares traded hands during trading, a decline of 54% from the average session volume of 263,197 shares. The stock had previously closed at $36.41.

Wall Street Analyst Weigh In

PKE has been the topic of a number of recent research reports. Weiss Ratings raised shares of Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Wall Street Zen downgraded shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Park Aerospace presently has an average rating of “Buy”.

Park Aerospace Stock Performance

The stock’s 50-day moving average price is $31.95 and its two-hundred day moving average price is $26.16. The stock has a market capitalization of $626.30 million, a PE ratio of 72.79 and a beta of 0.45.

Park Aerospace (NYSE:PKE) last released its earnings results on Thursday, May 28th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $24.19 million for the quarter, compared to the consensus estimate of $22.31 million. Park Aerospace had a net margin of 13.14% and a return on equity of 9.28%.

Park Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Thursday, April 2nd were paid a $0.125 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. Park Aerospace’s payout ratio is presently 116.28%.

Hedge Funds Weigh In On Park Aerospace

A number of hedge funds have recently bought and sold shares of PKE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Park Aerospace in the 4th quarter worth about $25,000. BNP Paribas Financial Markets boosted its stake in Park Aerospace by 50.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,178 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 726 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Park Aerospace in the 1st quarter worth about $52,000. Tower Research Capital LLC TRC boosted its stake in Park Aerospace by 241.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,278 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 3,024 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in Park Aerospace in the 1st quarter worth about $64,000. Institutional investors 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.