Heartland Advisors Inc. trimmed its stake in Park Electrochemical Corporation (NYSE:PKE) by 15.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,085,359 shares of the semiconductor company’s stock after selling 198,648 shares during the quarter. Park Electrochemical Corporation makes up about 1.3% of Heartland Advisors Inc.’s investment portfolio, making the stock its 6th largest holding. Heartland Advisors Inc. owned about 5.36% of Park Electrochemical Corporation worth $20,079,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Park Electrochemical Corporation by 3.6% in the first quarter. Principal Financial Group Inc. now owns 144,573 shares of the semiconductor company’s stock valued at $2,582,000 after buying an additional 5,083 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Park Electrochemical Corporation by 3.2% in the second quarter. Wells Fargo & Company MN now owns 250,181 shares of the semiconductor company’s stock valued at $4,608,000 after buying an additional 7,790 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Park Electrochemical Corporation by 2.4% in the second quarter. Renaissance Technologies LLC now owns 1,073,000 shares of the semiconductor company’s stock valued at $19,765,000 after buying an additional 25,500 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Park Electrochemical Corporation by 0.6% in the first quarter. Ameriprise Financial Inc. now owns 181,505 shares of the semiconductor company’s stock valued at $3,242,000 after buying an additional 1,154 shares during the last quarter. Finally, Teton Advisors Inc. lifted its stake in Park Electrochemical Corporation by 1.3% in the second quarter. Teton Advisors Inc. now owns 133,228 shares of the semiconductor company’s stock valued at $2,454,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 81.64% of the company’s stock.
Park Electrochemical Corporation (PKE) traded down 0.58% during midday trading on Monday, reaching $18.89. The company’s stock had a trading volume of 968 shares. Park Electrochemical Corporation has a 1-year low of $15.25 and a 1-year high of $20.24. The firm has a 50 day moving average price of $18.61 and a 200 day moving average price of $17.97. The firm has a market capitalization of $382.28 million, a PE ratio of 60.94 and a beta of 0.87.
Park Electrochemical Corporation (NYSE:PKE) last announced its quarterly earnings results on Tuesday, October 3rd. The semiconductor company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Park Electrochemical Corporation had a net margin of 5.63% and a return on equity of 5.12%. The company had revenue of $29.84 million during the quarter, compared to the consensus estimate of $28.00 million. During the same quarter last year, the company earned $0.10 earnings per share. On average, analysts predict that Park Electrochemical Corporation will post $0.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Tuesday, October 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Monday, October 2nd. Park Electrochemical Corporation’s dividend payout ratio (DPR) is 129.03%.
A number of research firms have issued reports on PKE. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Park Electrochemical Corporation in a research note on Friday, September 1st. BidaskClub cut Park Electrochemical Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research upgraded Park Electrochemical Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th.
Park Electrochemical Corporation Profile
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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