Heartland Advisors Inc. Lowers Stake in Park Electrochemical Corporation (NYSE:PKE)

Heartland Advisors Inc. reduced its stake in Park Electrochemical Corporation (NYSE:PKE) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,085,359 shares of the semiconductor company’s stock after selling 198,648 shares during the quarter. Park Electrochemical Corporation comprises approximately 1.3% of Heartland Advisors Inc.’s portfolio, making the stock its 6th biggest holding. Heartland Advisors Inc. owned approximately 5.36% of Park Electrochemical Corporation worth $20,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Texas Permanent School Fund lifted its holdings in Park Electrochemical Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 13,887 shares of the semiconductor company’s stock worth $256,000 after buying an additional 116 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Park Electrochemical Corporation by 4.1% in the 1st quarter. Thrivent Financial For Lutherans now owns 10,700 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 420 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Park Electrochemical Corporation by 1.9% in the 2nd quarter. Alliancebernstein L.P. now owns 26,156 shares of the semiconductor company’s stock worth $482,000 after acquiring an additional 500 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Park Electrochemical Corporation by 0.8% in the 1st quarter. California Public Employees Retirement System now owns 89,000 shares of the semiconductor company’s stock worth $1,590,000 after acquiring an additional 700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Park Electrochemical Corporation by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,652 shares of the semiconductor company’s stock worth $306,000 after buying an additional 802 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Shares of Park Electrochemical Corporation (NYSE:PKE) traded down $0.15 on Tuesday, hitting $18.59. The stock had a trading volume of 39,000 shares, compared to its average volume of 53,854. The firm has a market cap of $376.21, a P/E ratio of 39.87 and a beta of 0.89. Park Electrochemical Corporation has a fifty-two week low of $16.00 and a fifty-two week high of $20.24. The company has a quick ratio of 14.56, a current ratio of 15.23 and a debt-to-equity ratio of 0.37.

Park Electrochemical Corporation (NYSE:PKE) last issued its earnings results on Tuesday, October 3rd. The semiconductor company reported $0.12 EPS for the quarter, missing the consensus estimate 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 business had revenue of $29.84 million for the quarter, compared to the consensus estimate of $28.00 million. During the same quarter in the previous year, the firm posted $0.10 EPS. sell-side analysts anticipate that Park Electrochemical Corporation will post 0.54 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 7th. Shareholders of record on Tuesday, October 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, October 2nd. Park Electrochemical Corporation’s dividend payout ratio (DPR) is presently 129.03%.

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Park Electrochemical Corporation in a research report on Friday, September 1st. Zacks Investment Research upgraded Park Electrochemical Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, BidaskClub lowered Park Electrochemical Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th.

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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.

Institutional Ownership by Quarter for Park Electrochemical Corporation (NYSE:PKE)

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