Arizona State Retirement System trimmed its holdings in shares of Park Electrochemical Corp. (NYSE:PKE) by 43.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,998 shares of the semiconductor company’s stock after selling 9,866 shares during the period. Arizona State Retirement System’s holdings in Park Electrochemical were worth $211,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PKE. State Street Corp increased its position in shares of Park Electrochemical by 15.0% during the third quarter. State Street Corp now owns 660,654 shares of the semiconductor company’s stock worth $11,667,000 after purchasing an additional 86,308 shares in the last quarter. Rhumbline Advisers increased its position in shares of Park Electrochemical by 192.5% during the third quarter. Rhumbline Advisers now owns 170,553 shares of the semiconductor company’s stock worth $2,995,000 after purchasing an additional 112,245 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Park Electrochemical during the second quarter worth approximately $2,133,000. Invesco Ltd. increased its position in shares of Park Electrochemical by 6.8% during the second quarter. Invesco Ltd. now owns 126,575 shares of the semiconductor company’s stock worth $2,113,000 after purchasing an additional 8,056 shares in the last quarter. Finally, Cadence Capital Management LLC purchased a new stake in shares of Park Electrochemical during the third quarter worth approximately $2,041,000. 82.90% of the stock is owned by institutional investors and hedge funds.
Shares of PKE opened at $15.98 on Friday. Park Electrochemical Corp. has a one year low of $14.88 and a one year high of $19.29. The stock has a market capitalization of $320.70 million, a price-to-earnings ratio of 2.95 and a beta of 0.99. The stock has a 50 day moving average price of $16.25 and a 200 day moving average price of $16.88.
Park Electrochemical (NYSE:PKE) last issued its quarterly earnings results on Thursday, January 9th. The semiconductor company reported $0.14 EPS for the quarter. Park Electrochemical had a return on equity of 6.96% and a net margin of 181.69%. The firm had revenue of $15.85 million during the quarter.
The company also recently declared a None dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, January 17th.
Separately, ValuEngine upgraded Park Electrochemical from a “hold” rating to a “buy” rating in a research report on Monday, November 11th.
About Park Electrochemical
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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