Penn Capital Management Company LLC Decreases Stock Position in Park Aerospace Corp. $PKE

Penn Capital Management Company LLC cut its position in Park Aerospace Corp. (NYSE:PKE) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,151 shares of the semiconductor company’s stock after selling 19,516 shares during the quarter. Penn Capital Management Company LLC owned 0.87% of Park Aerospace worth $3,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Portolan Capital Management LLC acquired a new position in Park Aerospace during the 3rd quarter worth $4,984,000. Essex Investment Management Co. LLC bought a new stake in shares of Park Aerospace in the 3rd quarter worth about $3,060,000. New York State Common Retirement Fund increased its position in shares of Park Aerospace by 1,914.8% in the 3rd quarter. New York State Common Retirement Fund now owns 101,887 shares of the semiconductor company’s stock worth $2,072,000 after purchasing an additional 96,830 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Park Aerospace in the 3rd quarter worth about $1,512,000. Finally, Millennium Management LLC bought a new stake in shares of Park Aerospace in the 3rd quarter worth about $1,371,000. 77.83% of the stock is owned by institutional investors and hedge funds.

Park Aerospace Stock Performance

PKE opened at $36.49 on Wednesday. The company has a 50-day moving average of $31.62 and a 200-day moving average of $25.92. The company has a market capitalization of $727.10 million, a P/E ratio of 84.86 and a beta of 0.45. Park Aerospace Corp. has a 1-year low of $13.48 and a 1-year high of $36.87.

Park Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Thursday, April 2nd were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, April 2nd. Park Aerospace’s dividend payout ratio (DPR) is presently 116.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Park Aerospace from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Wall Street Zen downgraded shares of Park Aerospace from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Park Aerospace presently has a consensus rating of “Buy”.

Park Aerospace 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.