PNC Financial Services Group Inc. Sells 2,091 Shares of Park Aerospace Corp. $PKE

PNC Financial Services Group Inc. reduced its stake in Park Aerospace Corp. (NYSE:PKE) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,849 shares of the semiconductor company’s stock after selling 2,091 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Park Aerospace were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PKE. Penn Capital Management Company LLC raised its holdings in Park Aerospace by 71.0% in the 4th quarter. Penn Capital Management Company LLC now owns 164,638 shares of the semiconductor company’s stock worth $2,412,000 after purchasing an additional 68,337 shares during the period. JPMorgan Chase & Co. raised its holdings in Park Aerospace by 112.3% in the 4th quarter. JPMorgan Chase & Co. now owns 82,203 shares of the semiconductor company’s stock worth $1,204,000 after purchasing an additional 43,490 shares during the period. Uniplan Investment Counsel Inc. raised its holdings in Park Aerospace by 20.4% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 244,636 shares of the semiconductor company’s stock worth $3,584,000 after purchasing an additional 41,477 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Park Aerospace in the 1st quarter worth $450,000. Finally, Marshall Wace LLP raised its holdings in Park Aerospace by 54.9% in the 4th quarter. Marshall Wace LLP now owns 80,985 shares of the semiconductor company’s stock worth $1,186,000 after purchasing an additional 28,694 shares during the period. 77.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut Park Aerospace from a “buy” rating to a “hold” rating in a report on Monday, May 19th.

Park Aerospace Stock Up 1.6%

Shares of Park Aerospace stock opened at $18.05 on Wednesday. The firm has a market cap of $358.40 million, a price-to-earnings ratio of 53.09 and a beta of 0.45. The business has a 50-day moving average price of $16.36 and a 200-day moving average price of $14.55. Park Aerospace Corp. has a twelve month low of $11.97 and a twelve month high of $20.72.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings data on Tuesday, July 15th. The semiconductor company reported $0.10 earnings per share for the quarter. The firm had revenue of $15.40 million during the quarter. Park Aerospace had a return on equity of 7.60% and a net margin of 10.98%.

Park Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.8%. Park Aerospace’s dividend payout ratio (DPR) is presently 147.06%.

Park Aerospace Company Profile

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.