Park Electrochemical Corporation (NYSE:PKE) Shares Sold by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC cut its stake in Park Electrochemical Corporation (NYSE:PKE) by 29.7% during the first quarter, Holdings Channel reports. The firm owned 73,713 shares of the semiconductor company’s stock after selling 31,175 shares during the period. TIAA CREF Investment Management LLC’s holdings in Park Electrochemical Corporation were worth $1,317,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE boosted its position in shares of Park Electrochemical Corporation by 1.0% in the first quarter. US Bancorp DE now owns 20,650 shares of the semiconductor company’s stock valued at $370,000 after buying an additional 207 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Park Electrochemical Corporation by 1.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,718 shares of the semiconductor company’s stock valued at $274,000 after buying an additional 271 shares during the period. Comerica Bank boosted its position in shares of Park Electrochemical Corporation by 3.8% in the first quarter. Comerica Bank now owns 21,022 shares of the semiconductor company’s stock valued at $366,000 after buying an additional 765 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Park Electrochemical Corporation by 2.1% in the first quarter. Parametric Portfolio Associates LLC now owns 41,967 shares of the semiconductor company’s stock valued at $750,000 after buying an additional 861 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of 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 period. 81.30% of the stock is currently owned by institutional investors.

Shares of Park Electrochemical Corporation (PKE) traded up 2.19% on Monday, reaching $17.76. The company had a trading volume of 3,051 shares. Park Electrochemical Corporation has a 1-year low of $13.76 and a 1-year high of $20.24. The stock has a market capitalization of $359.36 million, a P/E ratio of 46.74 and a beta of 0.83. The company’s 50 day moving average price is $18.30 and its 200-day moving average price is $18.03.

Park Electrochemical Corporation (NYSE:PKE) last posted its quarterly earnings results on Wednesday, June 28th. The semiconductor company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $27.42 million during the quarter, compared to analyst estimates of $29 million. Park Electrochemical Corporation had a return on equity of 4.92% and a net margin of 6.99%. During the same quarter last year, the firm earned $0.15 EPS. Equities analysts predict that Park Electrochemical Corporation will post $0.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Wednesday, July 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.30%. Park Electrochemical Corporation’s dividend payout ratio (DPR) is 105.27%.

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Several research analysts recently issued reports on the company. Zacks Investment Research raised Park Electrochemical Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut Park Electrochemical Corporation from a “hold” rating to a “sell” rating in a research note on Thursday.

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

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