Zacks Investment Research downgraded shares of Park Electrochemical (NYSE:PKE) from a hold rating to a strong sell rating in a research note issued to investors on Friday.

According to Zacks, “Park Electrochemical Corp. is a global advanced materials company which develops and manufactures advanced composite materials, primary and secondary structures and assemblies and low-volume tooling for the aerospace markets and high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure, enterprise and military/aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. It’s operates through the following divisions: Advanced Composite Materials, Aerospace Structures, Electronic Materials, and Radio Frequency and Microwave Materials. “

Separately, Needham & Company LLC increased their price target on Park Electrochemical to $24.00 and gave the company a buy rating in a research note on Friday, January 5th. They noted that the move was a valuation call.

Park Electrochemical (NYSE:PKE) traded up $0.34 during trading hours on Friday, hitting $22.05. The company had a trading volume of 415,400 shares, compared to its average volume of 262,744. The company has a debt-to-equity ratio of 0.37, a current ratio of 19.23 and a quick ratio of 18.39. Park Electrochemical has a 12-month low of $16.00 and a 12-month high of $22.19. The stock has a market capitalization of $457.37, a PE ratio of 88.20 and a beta of 0.89.

Park Electrochemical (NYSE:PKE) last announced its quarterly earnings results on Thursday, January 4th. The semiconductor company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Park Electrochemical had a net margin of 4.60% and a return on equity of 4.69%. The firm had revenue of $26.14 million for the quarter, compared to the consensus estimate of $28.50 million. During the same period in the previous year, the company posted $0.10 earnings per share. research analysts predict that Park Electrochemical will post 0.37 EPS for the current year.

The company also recently declared a special dividend, which will be paid on Tuesday, February 13th. Investors of record on Tuesday, January 23rd will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, January 22nd. This is a positive change from Park Electrochemical’s previous special dividend of $1.50. Park Electrochemical’s dividend payout ratio is presently 160.00%.

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Park Electrochemical during the third quarter valued at approximately $254,000. Wells Fargo & Company MN increased its holdings in shares of Park Electrochemical by 3.2% in the 2nd quarter. Wells Fargo & Company MN now owns 250,181 shares of the semiconductor company’s stock valued at $4,608,000 after acquiring an additional 7,790 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Park Electrochemical by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,073,000 shares of the semiconductor company’s stock valued at $19,765,000 after acquiring an additional 25,500 shares during the period. Vanguard Group Inc. boosted its position in shares of Park Electrochemical by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,840,125 shares of the semiconductor company’s stock worth $33,895,000 after purchasing an additional 73,054 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Park Electrochemical by 13.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 47,405 shares of the semiconductor company’s stock worth $873,000 after purchasing an additional 5,438 shares in the last quarter. 81.82% of the stock is owned by institutional investors.

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About Park Electrochemical

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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