Park Aerospace (NYSE:PKE) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Park Aerospace Corp. (NYSE:PKE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.16 and traded as high as $14.20. Park Aerospace shares last traded at $13.95, with a volume of 41,120 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Park Aerospace from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd.

Park Aerospace Price Performance

The company has a market capitalization of $277.89 million, a P/E ratio of 38.74 and a beta of 0.40. The business’s 50-day moving average price is $14.09 and its two-hundred day moving average price is $14.16.

Park Aerospace (NYSE:PKE) last posted its earnings results on Tuesday, January 14th. The semiconductor company reported $0.08 earnings per share for the quarter. Park Aerospace had a return on equity of 7.02% and a net margin of 11.90%.

Park Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.125 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 3.59%. Park Aerospace’s payout ratio is 138.89%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Brandes Investment Partners LP grew its stake in shares of Park Aerospace by 4.4% during the 4th quarter. Brandes Investment Partners LP now owns 2,524,503 shares of the semiconductor company’s stock worth $36,984,000 after acquiring an additional 107,447 shares in the last quarter. Vanguard Group Inc. boosted its position in Park Aerospace by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,069,738 shares of the semiconductor company’s stock valued at $15,672,000 after purchasing an additional 6,646 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Park Aerospace by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 693,130 shares of the semiconductor company’s stock valued at $10,154,000 after purchasing an additional 21,452 shares during the last quarter. Royce & Associates LP grew its stake in Park Aerospace by 55.8% in the fourth quarter. Royce & Associates LP now owns 579,151 shares of the semiconductor company’s stock valued at $8,485,000 after purchasing an additional 207,478 shares in the last quarter. Finally, Foundation Resource Management Inc. increased its position in shares of Park Aerospace by 0.8% during the 4th quarter. Foundation Resource Management Inc. now owns 469,278 shares of the semiconductor company’s stock worth $6,875,000 after purchasing an additional 3,519 shares during the last quarter. Institutional investors own 77.83% of the company’s stock.

About Park Aerospace

Park Aerospace Corp., an aerospace company, develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the aerospace market in North America, Asia, and Europe. It offers advanced composite materials, including film adhesives and lightning strike protection materials that are used to produce primary and secondary structures for jet engines, large and regional transport aircrafts, military aircrafts, unmanned aerial vehicles, business jets, general aviation aircrafts, and rotary wing aircrafts.