California State Teachers Retirement System Reduces Position in Preformed Line Products (NASDAQ:PLPC)

California State Teachers Retirement System reduced its position in shares of Preformed Line Products (NASDAQ:PLPC) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,667 shares of the technology company’s stock after selling 153 shares during the period. California State Teachers Retirement System owned about 0.05% of Preformed Line Products worth $343,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in Preformed Line Products by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock valued at $1,823,000 after buying an additional 192 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Preformed Line Products by 243.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock worth $38,000 after acquiring an additional 200 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Preformed Line Products by 6.8% during the first quarter. Russell Investments Group Ltd. now owns 4,003 shares of the technology company’s stock worth $515,000 after purchasing an additional 254 shares during the last quarter. Quest Partners LLC purchased a new stake in Preformed Line Products during the fourth quarter worth approximately $75,000. Finally, BNP Paribas Financial Markets boosted its holdings in Preformed Line Products by 29.0% in the first quarter. BNP Paribas Financial Markets now owns 3,231 shares of the technology company’s stock valued at $416,000 after purchasing an additional 726 shares in the last quarter. 41.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th.

Preformed Line Products Price Performance

Shares of PLPC opened at $118.98 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.93 and a quick ratio of 1.57. Preformed Line Products has a 1-year low of $104.96 and a 1-year high of $181.00. The stock has a market cap of $584.19 million, a PE ratio of 11.51 and a beta of 0.64. The firm has a fifty day moving average price of $124.57 and a 200 day moving average price of $126.99.

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, July 1st. Preformed Line Products’s payout ratio is currently 7.74%.

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.