ValuEngine lowered shares of Park Electrochemical (NYSE:PKE) from a buy rating to a hold rating in a report issued on Friday morning.
Shares of PKE stock opened at $17.58 on Friday. The firm has a market capitalization of $356.50 million, a price-to-earnings ratio of 41.86 and a beta of 1.05. Park Electrochemical has a one year low of $16.45 and a one year high of $24.16.
Park Electrochemical (NYSE:PKE) last announced its quarterly earnings results on Thursday, January 3rd. The semiconductor company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $12.85 million during the quarter. Park Electrochemical had a net margin of 33.17% and a return on equity of 6.15%.
The company also recently declared a special dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 5th will be paid a $4.25 dividend. The ex-dividend date is Monday, February 4th. This represents a yield of 1.92%. This is a boost from Park Electrochemical’s previous special dividend of $3.00.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Park Electrochemical by 0.8% in the fourth quarter. BlackRock Inc. now owns 2,855,703 shares of the semiconductor company’s stock valued at $51,602,000 after acquiring an additional 21,759 shares during the last quarter. California Public Employees Retirement System lifted its stake in Park Electrochemical by 1.0% in the fourth quarter. California Public Employees Retirement System now owns 57,607 shares of the semiconductor company’s stock valued at $1,041,000 after acquiring an additional 575 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Park Electrochemical in the fourth quarter valued at $132,000. Rhumbline Advisers lifted its stake in Park Electrochemical by 20.6% in the fourth quarter. Rhumbline Advisers now owns 55,883 shares of the semiconductor company’s stock valued at $1,010,000 after acquiring an additional 9,538 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Park Electrochemical by 6.3% in the fourth quarter. Arizona State Retirement System now owns 29,665 shares of the semiconductor company’s stock valued at $536,000 after acquiring an additional 1,765 shares during the last quarter. Hedge funds and other institutional investors own 82.87% of the company’s stock.
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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