ValuEngine upgraded shares of Park Electrochemical (NYSE:PKE) from a hold rating to a buy rating in a report released on Thursday morning, ValuEngine reports.
Shares of NYSE PKE traded down $0.08 during trading on Thursday, hitting $16.04. The company had a trading volume of 153,798 shares, compared to its average volume of 144,958. The stock has a 50 day simple moving average of $17.44 and a 200 day simple moving average of $16.72. Park Electrochemical has a 12 month low of $14.88 and a 12 month high of $23.30. The firm has a market capitalization of $328.05 million, a P/E ratio of 31.80 and a beta of 1.08.
Park Electrochemical (NYSE:PKE) last posted its quarterly earnings data on Thursday, October 10th. The semiconductor company reported $0.10 EPS for the quarter. Park Electrochemical had a return on equity of 6.81% and a net margin of 193.18%. The firm had revenue of $13.72 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Tuesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, September 30th.
In related news, Director Steven T. Warshaw sold 3,000 shares of Park Electrochemical stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $17.12, for a total transaction of $51,360.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $171,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO P. Matthew Farabaugh sold 8,000 shares of Park Electrochemical stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $17.54, for a total value of $140,320.00. Following the sale, the chief financial officer now directly owns 3,000 shares in the company, valued at approximately $52,620. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $337,120 in the last three months. 8.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in Park Electrochemical by 387.3% during the 2nd quarter. Bank of Montreal Can now owns 2,802 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 2,227 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Park Electrochemical by 58.3% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,023 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 2,954 shares during the period. Ellington Management Group LLC bought a new stake in Park Electrochemical during the 2nd quarter valued at approximately $192,000. Macquarie Group Ltd. bought a new stake in Park Electrochemical during the 2nd quarter valued at approximately $195,000. Finally, State of Alaska Department of Revenue raised its stake in Park Electrochemical by 125.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,959 shares of the semiconductor company’s stock valued at $262,000 after purchasing an additional 8,333 shares during the period. 84.28% of the stock is currently owned by institutional investors.
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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