Preformed Line Products (NASDAQ:PLPC) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC grew its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,755 shares of the technology company’s stock after purchasing an additional 125 shares during the quarter. Private Advisor Group LLC’s holdings in Preformed Line Products were worth $353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Easterly Investment Partners LLC acquired a new position in shares of Preformed Line Products in the second quarter worth about $1,658,000. CM Management LLC increased its holdings in Preformed Line Products by 48.6% in the first quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock valued at $3,345,000 after buying an additional 8,500 shares during the last quarter. Apis Capital Advisors LLC bought a new stake in Preformed Line Products in the second quarter valued at about $573,000. Koss Olinger Consulting LLC bought a new stake in Preformed Line Products in the second quarter valued at about $447,000. Finally, Vanguard Group Inc. grew its holdings in shares of Preformed Line Products by 5.0% during the first quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock valued at $9,398,000 after purchasing an additional 3,489 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th.

Preformed Line Products Stock Performance

Shares of PLPC stock opened at $123.33 on Wednesday. The firm has a market capitalization of $604.07 million, a price-to-earnings ratio of 18.52 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. Preformed Line Products has a 12-month low of $109.01 and a 12-month high of $141.66. The business has a 50 day simple moving average of $121.81 and a 200 day simple moving average of $124.37.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The firm had revenue of $146.97 million during the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.65%. Preformed Line Products’s dividend payout ratio (DPR) is presently 12.01%.

Preformed Line Products Profile

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.