Park Aerospace (NYSE:PKE) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Park Aerospace Corp. (NYSE:PKE)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $18.19 and traded as high as $21.50. Park Aerospace shares last traded at $21.4460, with a volume of 174,241 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Park Aerospace in a report on Monday, December 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Park Aerospace Stock Up 4.6%

The company has a market cap of $426.99 million, a PE ratio of 59.57 and a beta of 0.33. The company’s fifty day moving average is $19.66 and its 200-day moving average is $18.22.

Park Aerospace (NYSE:PKE) last released its quarterly earnings results on Thursday, October 9th. The semiconductor company reported $0.12 earnings per share for the quarter. Park Aerospace had a return on equity of 7.97% and a net margin of 11.57%.The firm had revenue of $16.38 million for the quarter. During the same period in the previous year, the company earned $0.10 earnings per share.

Park Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.50 annualized dividend and a dividend yield of 2.3%. Park Aerospace’s dividend payout ratio is presently 138.89%.

Institutional Trading of Park Aerospace

Several large investors have recently added to or reduced their stakes in PKE. Penn Capital Management Company LLC raised its position in Park Aerospace by 62.1% in the third quarter. Penn Capital Management Company LLC now owns 192,667 shares of the semiconductor company’s stock worth $3,919,000 after acquiring an additional 73,833 shares during the period. Coldstream Capital Management Inc. bought a new stake in Park Aerospace during the third quarter valued at about $542,000. Susquehanna International Group LLP increased its position in Park Aerospace by 19.2% in the third quarter. Susquehanna International Group LLP now owns 28,644 shares of the semiconductor company’s stock worth $583,000 after buying an additional 4,612 shares in the last quarter. Millennium Management LLC bought a new position in shares of Park Aerospace in the third quarter worth about $1,371,000. Finally, Citadel Advisors LLC purchased a new position in shares of Park Aerospace during the 3rd quarter valued at about $362,000. 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.