Park Aerospace (NYSE:PKE) Sets New 52-Week High – Should You Buy?

Park Aerospace Corp. (NYSE:PKE)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $25.42 and last traded at $25.3450, with a volume of 149004 shares trading hands. The stock had previously closed at $23.94.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Park Aerospace from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Park Aerospace has a consensus rating of “Hold”.

Park Aerospace Stock Down 3.0%

The stock has a market cap of $462.17 million, a P/E ratio of 64.48 and a beta of 0.31. The firm’s 50-day moving average is $20.37 and its two-hundred day moving average is $19.16.

Park Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Friday, January 2nd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, January 2nd. Park Aerospace’s payout ratio is presently 138.89%.

Hedge Funds Weigh In On Park Aerospace

Several institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new stake in shares of Park Aerospace in the first quarter worth about $52,000. Jane Street Group LLC lifted its holdings in Park Aerospace by 11.4% in the 1st quarter. Jane Street Group LLC now owns 14,205 shares of the semiconductor company’s stock worth $191,000 after purchasing an additional 1,456 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in Park Aerospace during the second quarter worth approximately $172,000. Foundation Resource Management Inc. grew its holdings in Park Aerospace by 4.0% during the second quarter. Foundation Resource Management Inc. now owns 491,897 shares of the semiconductor company’s stock valued at $7,265,000 after purchasing an additional 19,087 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in shares of Park Aerospace in the second quarter valued at approximately $227,000. 77.83% of the stock is currently owned by institutional investors.

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.