Park Aerospace Corp. $PKE Stock: Conestoga Capital Advisors LLC Raises Position

Conestoga Capital Advisors LLC boosted its holdings in shares of Park Aerospace Corp. (NYSE:PKE) by 41.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,816 shares of the semiconductor company’s stock after acquiring an additional 20,331 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Park Aerospace were worth $2,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. MCF Advisors LLC grew its stake in Park Aerospace by 42.2% during the 2nd quarter. MCF Advisors LLC now owns 1,226 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 364 shares in the last quarter. Parvin Asset Management LLC lifted its position in shares of Park Aerospace by 11.4% in the first quarter. Parvin Asset Management LLC now owns 4,875 shares of the semiconductor company’s stock worth $133,000 after purchasing an additional 500 shares in the last quarter. Strs Ohio lifted its position in shares of Park Aerospace by 15.9% in the first quarter. Strs Ohio now owns 5,100 shares of the semiconductor company’s stock worth $140,000 after purchasing an additional 700 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Park Aerospace by 28.5% in the third quarter. State of Alaska Department of Revenue now owns 4,374 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 969 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its position in shares of Park Aerospace by 3.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 31,459 shares of the semiconductor company’s stock worth $1,200,000 after purchasing an additional 1,128 shares in the last quarter. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PKE shares. Weiss Ratings upgraded shares of Park Aerospace from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, October 21st. Wall Street Zen lowered shares of Park Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 target price on shares of Park Aerospace in a research report on Friday, October 9th. Citizens Jmp reiterated a “market outperform” rating and issued a $42.00 target price on shares of Park Aerospace in a research report on Friday, October 9th. Finally, Citigroup reissued a “market outperform” rating on shares of Park Aerospace in a research note on Monday, October 19th. Five research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Park Aerospace has a consensus rating of “Buy” and a consensus price target of $42.50.

Park Aerospace Price Performance

Shares of NYSE PKE opened at $24.68 on Thursday. The business’s 50-day moving average price is $28.99 and its two-hundred day moving average price is $30.77. Park Aerospace Corp. has a one year low of $18.25 and a one year high of $39.86. The company has a market capitalization of $543.81 million, a P/E ratio of 34.28 and a beta of 0.46.

Park Aerospace (NYSE:PKE) last issued its earnings results on Thursday, October 8th. The semiconductor company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. Park Aerospace had a return on equity of 11.21% and a net margin of 18.42%. The company had revenue of $20.79 million for the quarter, compared to analyst estimates of $20.01 million.

Park Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 4th. Investors of record on Thursday, October 1st were paid a $0.1250 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.50 annualized dividend and a dividend yield of 2.0%. Park Aerospace’s payout ratio is presently 69.44%.

About Park Aerospace

Park Aerospace Corp. (NYSE:PKE) develops and manufactures advanced composite materials and composite structures primarily for the aerospace industry. Its products are used in commercial aircraft, military aircraft, unmanned aerial vehicles, and other demanding aerospace applications where lightweight construction, strength, and durability are important.

The company’s offerings include carbon-fiber and other composite prepregs, specialized reinforcement materials, honeycomb core materials, film adhesives, and related composite-material systems.