1,573 Shares in Preformed Line Products (NASDAQ:PLPC) Acquired by Quest Partners LLC

Quest Partners LLC purchased a new stake in shares of Preformed Line Products (NASDAQ:PLPC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,573 shares of the technology company’s stock, valued at approximately $196,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLPC. Dimensional Fund Advisors LP raised its stake in Preformed Line Products by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock worth $49,222,000 after acquiring an additional 5,913 shares during the last quarter. Easterly Investment Partners LLC acquired a new position in Preformed Line Products in the 2nd quarter worth approximately $1,658,000. Janney Montgomery Scott LLC raised its position in Preformed Line Products by 1.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock worth $1,823,000 after buying an additional 192 shares during the last quarter. Denali Advisors LLC lifted its stake in Preformed Line Products by 37.9% during the 1st quarter. Denali Advisors LLC now owns 4,000 shares of the technology company’s stock valued at $515,000 after acquiring an additional 1,100 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Preformed Line Products by 50.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 6,090 shares of the technology company’s stock valued at $758,000 after acquiring an additional 2,030 shares during the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Preformed Line Products Stock Up 2.5 %

Preformed Line Products stock opened at $117.29 on Monday. Preformed Line Products has a 52 week low of $104.96 and a 52 week high of $170.83. The firm has a market cap of $575.89 million, a price-to-earnings ratio of 11.34 and a beta of 0.61. The business’s 50-day moving average price is $120.88 and its 200 day moving average price is $125.29. 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 posted its earnings results on Wednesday, July 31st. The technology company reported $1.89 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 6.90% and a return on equity of 9.83%. The firm had revenue of $138.72 million during the quarter.

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Monday, July 1st. Preformed Line Products’s dividend payout ratio (DPR) is presently 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.