UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Park Electrochemical Corp.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock (no par value)
--------------------------------------------------------------------------------
(Title of Class of Securities)
700416209
--------------------------------------------------------------------------------
(CUSIP Number)
December 31st, 2009
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
13G is filed:
|X| Rule 13d-1(b)
|_| Rule 13d-1(c)
|_| Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
CUSIP NO:
700416209
--------------------------------------------------------------------------------
1. Names of Reporting Persons. Dreman Value Management, L.L.C.
I.R.S. Identification Nos. Of Above Persons (entities only): 22-3499132
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)_ _____ (b)______
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization: Delaware
--------------------------------------------------------------------------------
Number of Shares Beneficially Owned by
Each Reporting Person With:
5. Sole Voting Power : 194,454
------------------------------------
6. Shared Voting Power: 13,228
------------------------------------
7. Sole Dispositive Power : N/A
------------------------------------
8. Shared Dispositive Power:
------------------------------------
870,861
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
870,861
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions): N/A
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9): 4.23%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions): IA
--------------------------------------------------------------------------------
2
Item 1.
(a) Name Of Issuer: Park Electrochemical Corp.
--------------------------------------------------------------------------------
(b) Address of Issuer's Principal Executive Offices:
48 South Service Road
Melville, NY 11747
--------------------------------------------------------------------------------
Item 2.
(a) Name of Person Filing: Dreman Value Management, L.L.C.
--------------------------------------------------------------------------------
(b) Address of Principal Business Office or, if none, Residence:
Harborside Financial Center, Plaza 10,
Suite 800, Jersey City, NJ, 07311
--------------------------------------------------------------------------------
(c) Citizenship: Delaware
--------------------------------------------------------------------------------
(d) Title of Class of Securities: Common Stock (no par value)
--------------------------------------------------------------------------------
(e) CUSIP Number: 700416209
--------------------------------------------------------------------------------
Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or 240.13d-2
(b) or (c), check whether the person filing is a:
(a) |_| Broker or dealer registered under Section 15 of the Act
(15 U.S.C. 78o);
(b) |_| Bank as defined in Section 3(a)(6) of the Act (15 U.S.C.
78c);
(c) |_| Insurance company as defined in Section 3(a)(19) of the
Act (15 U.S.C. 78c);
(d) |_| Investment company registered under Section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) |X| An investment adviser in accordance with ss.240.13d-1(b)
(1)(ii)(E);
(f) |_| An employee benefit plan or endowment fund in accordance
with ss.240.13d-1(b)(1)(ii)(F);
3
(g) |_| A parent holding company or control person in accordance
with ss.240.13d-1(b)(1)(ii)(G);
(h) |_| A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) |_| A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Amount beneficially owned:
(a) 870,861
(b) Percent of Class: 4.23%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 194,454
(ii) Shared power to vote or to direct the vote 13,228
(iii) Sole power to dispose or to direct the disposition
of N/A
(iv) Shared power to dispose or to direct the disposition
of: 870,861
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as
of the date hereof, the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [X].
4
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If this statement is being filed to report the fact
that as of the date hereof, the reporting person is the
beneficial owner of more than five percent of the class of
securities, check the following [ ].
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
N/A
Item 8. Identification and Classification of Members of the Group.
N/A
Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification.
By signing below, I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer of
such securities and were not acquired and are not held in connection with or
as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 10th, 2010
--------------------
Date
Dreman Value Management, L.L.C.
-------------------------------
/s/ Salvatore Faia
--------------------------------
Salvatore Faia for Dreman
Value Management, L.L.C.,
Chief Compliance Officer
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
5