Preformed Line Products (NASDAQ:PLPC) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its holdings in Preformed Line Products (NASDAQ:PLPC) by 17.5% in the third quarter, Holdings Channel.com reports. The fund owned 2,460 shares of the technology company’s stock after selling 523 shares during the period. Exchange Traded Concepts LLC’s holdings in Preformed Line Products were worth $315,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PLPC. Innealta Capital LLC bought a new stake in shares of Preformed Line Products in the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC bought a new position in shares of Preformed Line Products in the second quarter valued at $52,000. Mather Group LLC. bought a new stake in shares of Preformed Line Products during the 2nd quarter worth $64,000. SG Americas Securities LLC acquired a new position in shares of Preformed Line Products in the 3rd quarter worth $119,000. Finally, Ausbil Investment Management Ltd acquired a new stake in shares of Preformed Line Products during the first quarter worth $195,000. Institutional investors own 41.19% of the company’s stock.

Preformed Line Products Trading Down 2.2 %

Shares of NASDAQ PLPC opened at $125.20 on Friday. The business has a fifty day simple moving average of $120.30 and a 200-day simple moving average of $124.43. The company has a market cap of $614.73 million, a price-to-earnings ratio of 15.36 and a beta of 0.61. Preformed Line Products has a 12 month low of $104.96 and a 12 month high of $144.60. The company has a quick ratio of 1.57, a current ratio of 2.93 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Wednesday, July 31st. The technology company reported $1.89 EPS for the quarter. The company had revenue of $138.72 million during the quarter. Preformed Line Products had a net margin of 6.90% and a return on equity of 9.83%.

Preformed Line Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Tuesday, October 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, October 1st. Preformed Line Products’s dividend payout ratio is 9.82%.

About Preformed Line Products

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.