Raging Capital Management LLC Reduces Position in Park Electrochemical Corp. (PKE)

Raging Capital Management LLC lessened its stake in Park Electrochemical Corp. (NYSE:PKE) by 5.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 900,588 shares of the semiconductor company’s stock after selling 53,334 shares during the period. Park Electrochemical comprises approximately 3.1% of Raging Capital Management LLC’s portfolio, making the stock its 12th largest position. Raging Capital Management LLC owned 4.44% of Park Electrochemical worth $17,552,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PKE. Piedmont Investment Advisors LLC acquired a new stake in Park Electrochemical in the second quarter valued at approximately $103,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Park Electrochemical in the second quarter valued at approximately $201,000. SG Americas Securities LLC acquired a new stake in Park Electrochemical in the second quarter valued at approximately $210,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Park Electrochemical in the second quarter valued at approximately $216,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Park Electrochemical in the second quarter valued at approximately $224,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Shares of Park Electrochemical stock traded down $0.07 on Thursday, reaching $17.92. The stock had a trading volume of 459 shares, compared to its average volume of 64,494. Park Electrochemical Corp. has a fifty-two week low of $16.45 and a fifty-two week high of $24.16. The stock has a market capitalization of $361.14 million, a price-to-earnings ratio of 46.87 and a beta of 0.93.

Park Electrochemical (NYSE:PKE) last issued its quarterly earnings data on Thursday, October 4th. The semiconductor company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.12). Park Electrochemical had a return on equity of 5.10% and a net margin of 25.50%. The firm had revenue of $11.21 million during the quarter. During the same period last year, the firm earned $0.12 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 5th. Stockholders of record on Wednesday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.23%.

Separately, ValuEngine cut shares of Park Electrochemical from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th.

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Park Electrochemical Company Profile

Park Electrochemical Corp., through its subsidiaries, develops, manufactures, markets, and sells high-technology digital and radio frequency/microwave printed circuit material products primarily for the telecommunications and Internet infrastructure, enterprise, and military/aerospace markets. It also designs, develops, and manufactures advanced composite materials, primary and secondary structures and assemblies, and low-volume tooling products for the aerospace markets.

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Institutional Ownership by Quarter for Park Electrochemical (NYSE:PKE)

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