New York State Teachers Retirement System lowered its stake in Park Electrochemical Corp. (NYSE:PKE) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,859 shares of the semiconductor company’s stock after selling 700 shares during the period. New York State Teachers Retirement System owned approximately 0.33% of Park Electrochemical Corp. worth $1,228,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. US Bancorp DE raised its stake in Park Electrochemical Corp. by 3.0% in the third quarter. US Bancorp DE now owns 20,057 shares of the semiconductor company’s stock worth $348,000 after buying an additional 577 shares in the last quarter. WealthTrust Axiom LLC bought a new stake in Park Electrochemical Corp. during the third quarter worth about $358,000. Comerica Bank raised its stake in Park Electrochemical Corp. by 5.8% in the fourth quarter. Comerica Bank now owns 20,257 shares of the semiconductor company’s stock worth $362,000 after buying an additional 1,109 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Park Electrochemical Corp. by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 27,380 shares of the semiconductor company’s stock worth $475,000 after buying an additional 70 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in Park Electrochemical Corp. by 3.7% in the third quarter. Citadel Advisors LLC now owns 27,750 shares of the semiconductor company’s stock worth $482,000 after buying an additional 997 shares in the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.
Park Electrochemical Corp. (NYSE:PKE) traded up 0.70% on Thursday, hitting $17.20. The stock had a trading volume of 107,713 shares. The firm has a market cap of $348.02 million, a PE ratio of 30.60 and a beta of 1.01. The company’s 50 day moving average is $18.01 and its 200 day moving average is $17.75. Park Electrochemical Corp. has a 12-month low of $13.76 and a 12-month high of $20.24.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 2nd. Stockholders of record on Tuesday, April 4th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, March 31st. Park Electrochemical Corp.’s payout ratio is 70.18%.
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PKE has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target (up previously from $18.00) on shares of Park Electrochemical Corp. in a research report on Monday, January 9th. Zacks Investment Research upgraded Park Electrochemical Corp. from a “sell” rating to a “hold” rating in a report on Friday, March 3rd.
Park Electrochemical Corp. Company 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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