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MELVILLE, N.Y. — Mark A. Esquivel, President and COO of Park Aerospace Corp. (NYSE:PKE), recently sold shares of the company, according to a Form 4 filing with the Securities and Exchange Commission. On January 28, Esquivel executed sales of common stock, totaling $67,500, at a price of $15 per share. The transaction comes as PKE trades near its 52-week high of $16.96, with InvestingPro analysis suggesting the stock is slightly overvalued at current levels.
The filing also detailed a previous acquisition of 4,500 shares at $12.46 each, which were subsequently sold, leaving Esquivel with no remaining shares from this transaction. Notably, InvestingPro data shows PKE has maintained dividend payments for 41 consecutive years, with a current yield of 3.38%.
Park Aerospace Corp., headquartered in Melville, NY, is known for its production of advanced composite materials and parts for the aerospace industry. The company, with a market capitalization of $297 million, maintains strong financial health with a current ratio of 7.55, indicating robust liquidity management.
In other recent news, Park Aerospace Corp. announced a significant change in its executive team with the retirement of Senior Vice President and Chief Financial Officer P. Matthew Farabaugh, effective November 1, 2024. Christopher J. Goldner, formerly Vice President-Finance, has been appointed as the new principal accounting officer and principal financial officer, as revealed in a recent 8-K filing with the Securities and Exchange Commission. This transition is part of a planned internal shift ahead of Farabaugh’s retirement.
In terms of financial performance, Park Aerospace reported its second-quarter fiscal year 2025 results, with sales reaching $16.7 million and an EBITDA of $3.2 million. The company’s gross profit was $4 million, with a gross margin of 28.5%, and a significant portion of the revenue was generated from ArianeGroup’s RAYCARB product’s low-margin sales.
Looking forward, the company is forecasting Q3 sales to range between $13.5 million and $14.25 million, and annual sales estimate of $60 million to $65 million. In addition to these developments, Park Aerospace has received a $6.5 million purchase order for Fan Case Containment Wrap materials for GE9X engines and has qualified for a high-profile missile defense program. These recent developments reflect the ongoing dynamics within Park Aerospace as it continues to navigate the aerospace industry.
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