Park Aerospace Corp. (NYSE:PKE) Short Interest Update
by Danessa Lincoln · The Markets DailyPark Aerospace Corp. (NYSE:PKE – Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 897,728 shares, a growth of 23.0% from the February 12th total of 729,803 shares. Currently, 5.1% of the company’s stock are sold short. Based on an average trading volume of 266,510 shares, the days-to-cover ratio is presently 3.4 days. Based on an average trading volume of 266,510 shares, the days-to-cover ratio is presently 3.4 days. Currently, 5.1% of the company’s stock are sold short.
Wall Street Analysts Forecast Growth
PKE has been the subject of several analyst reports. Wall Street Zen upgraded shares of Park Aerospace from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Weiss Ratings upgraded shares of Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.
Park Aerospace Trading Up 1.4%
Park Aerospace stock opened at $27.97 on Wednesday. Park Aerospace has a 12 month low of $11.97 and a 12 month high of $29.60. The stock has a fifty day simple moving average of $25.38 and a two-hundred day simple moving average of $21.79. The firm has a market cap of $557.34 million, a price-to-earnings ratio of 65.03 and a beta of 0.29.
Park Aerospace (NYSE:PKE – Get Free Report) last announced its quarterly earnings results on Tuesday, January 13th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter. Park Aerospace had a return on equity of 9.28% and a net margin of 13.14%.The firm had revenue of $17.33 million for the quarter.
Park Aerospace Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, April 2nd. This represents a $0.50 annualized dividend and a yield of 1.8%. Park Aerospace’s dividend payout ratio is currently 116.28%.
Institutional Trading of Park Aerospace
A number of large investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC purchased a new stake in Park Aerospace during the third quarter valued at approximately $3,060,000. New York State Common Retirement Fund raised its position in Park Aerospace by 1,914.8% in the third quarter. New York State Common Retirement Fund now owns 101,887 shares of the semiconductor company’s stock worth $2,072,000 after acquiring an additional 96,830 shares during the period. Huntleigh Advisors Inc. purchased a new position in shares of Park Aerospace during the 3rd quarter worth $1,126,000. Palisades Investment Partners LLC purchased a new position in shares of Park Aerospace during the 3rd quarter worth $5,904,000. Finally, Teton Advisors LLC bought a new stake in shares of Park Aerospace during the 3rd quarter valued at $854,000. 77.83% of the stock is currently owned by institutional investors.
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.