Callan Family Office LLC Buys Shares of 16,001 Park Aerospace Corp. $PKE

Callan Family Office LLC bought a new stake in Park Aerospace Corp. (NYSE:PKE) during the 2nd quarter, Holdings Channel reports. The fund bought 16,001 shares of the semiconductor company’s stock, valued at approximately $611,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Buckland Partners Management Co LLC bought a new position in Park Aerospace in the second quarter valued at approximately $805,000. Focused Alpha LLC bought a new stake in shares of Park Aerospace during the 2nd quarter valued at $486,000. BlackRock Inc. acquired a new position in shares of Park Aerospace in the 2nd quarter valued at $55,207,000. Deutsche Bank AG acquired a new position in shares of Park Aerospace in the 2nd quarter valued at $703,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Park Aerospace in the 2nd quarter worth $7,639,000. 77.83% of the stock is owned by institutional investors.

Park Aerospace Price Performance

PKE stock opened at $32.55 on Wednesday. The stock has a market capitalization of $707.96 million, a P/E ratio of 51.67 and a beta of 0.41. Park Aerospace Corp. has a fifty-two week low of $18.19 and a fifty-two week high of $39.86. The business has a 50-day moving average of $35.05 and a 200-day moving average of $31.98.

Park Aerospace (NYSE:PKE) last announced its earnings results on Monday, July 20th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.95 million. Park Aerospace had a return on equity of 10.75% and a net margin of 16.70%.

Park Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Wednesday, July 1st. Park Aerospace’s dividend payout ratio (DPR) is currently 79.37%.

Wall Street Analyst Weigh In

PKE has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of Park Aerospace in a research note on Tuesday, July 21st. Citigroup reaffirmed a “market outperform” rating on shares of Park Aerospace in a research note on Tuesday, July 21st. Citizens Jmp initiated coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $42.00 price objective on the stock. Wall Street Zen cut shares of Park Aerospace from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings cut shares of Park Aerospace from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $42.50.

Insider Activity

In other news, insider Constantine Petropoulos sold 2,500 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.00, for a total value of $90,000.00. Following the completion of the sale, the insider owned 2,500 shares of the company’s stock, valued at approximately $90,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.10% of the stock is currently owned by corporate insiders.

About Park Aerospace

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.