Park Electrochemical Corp. (NYSE:PKE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “Park Electrochemical Corp., through its subsidiaries, is primarily engaged in the design, production and marketing of advanced electronic materials used to fabricate complex multilayer printed circuit boards, semiconductor packages and other electronic interconnection systems. The company’s electronic materials business is operated by its Nelco group of companies. The company is also engaged in the design, production and marketing of specialty adhesive tapes and films, advanced composite materials and microwave circuitry materials for the electronics, aerospace markets. “
Separately, Needham & Company LLC lowered their price objective on Park Electrochemical Corp. from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th.
Shares of Park Electrochemical Corp. (NYSE:PKE) opened at 14.45 on Thursday. Park Electrochemical Corp. has a 52-week low of $13.65 and a 52-week high of $18.09. The firm has a 50 day moving average price of $16.47 and a 200-day moving average price of $16.04. The company has a market cap of $292.40 million, a price-to-earnings ratio of 21.57 and a beta of 1.37.
Park Electrochemical Corp. (NYSE:PKE) last posted its quarterly earnings results on Thursday, October 6th. The company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.11. Park Electrochemical Corp. had a return on equity of 7.78% and a net margin of 10.42%. The company earned $29.06 million during the quarter. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities research analysts anticipate that Park Electrochemical Corp. will post $0.80 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 4th will be given a $0.10 dividend. The ex-dividend date is Friday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.77%. Park Electrochemical Corp.’s dividend payout ratio (DPR) is presently 58.82%.
Large investors have recently modified their holdings of the company. Royce & Associates LP increased its stake in shares of Park Electrochemical Corp. by 5.9% in the second quarter. Royce & Associates LP now owns 2,747,934 shares of the company’s stock worth $39,927,000 after buying an additional 153,600 shares during the period. Vanguard Group Inc. increased its stake in shares of Park Electrochemical Corp. by 5.3% in the second quarter. Vanguard Group Inc. now owns 1,580,312 shares of the company’s stock worth $22,963,000 after buying an additional 79,583 shares during the period. BlackRock Fund Advisors increased its stake in shares of Park Electrochemical Corp. by 1.7% in the second quarter. BlackRock Fund Advisors now owns 1,340,849 shares of the company’s stock worth $19,483,000 after buying an additional 23,026 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Park Electrochemical Corp. by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,010,342 shares of the company’s stock worth $14,680,000 after buying an additional 37,940 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Park Electrochemical Corp. by 17.2% in the first quarter. Renaissance Technologies LLC now owns 860,000 shares of the company’s stock worth $13,769,000 after buying an additional 126,100 shares during the period. Institutional investors own 82.68% of the company’s stock.
About Park Electrochemical Corp.
Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low-volume tooling products for the aerospace markets.
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