Preformed Line Products (NASDAQ:PLPC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 2.5% during the third quarter, Holdings Channel reports. The firm owned 64,323 shares of the technology company’s stock after selling 1,677 shares during the period. Geode Capital Management LLC’s holdings in Preformed Line Products were worth $8,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLPC. Allspring Global Investments Holdings LLC acquired a new position in shares of Preformed Line Products in the 2nd quarter valued at $52,000. Truvestments Capital LLC purchased a new stake in Preformed Line Products in the third quarter valued at $103,000. SG Americas Securities LLC acquired a new position in Preformed Line Products in the third quarter valued at $119,000. Quest Partners LLC purchased a new position in shares of Preformed Line Products during the second quarter worth about $196,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Preformed Line Products by 13.1% during the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock worth $304,000 after purchasing an additional 274 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $128.43 on Friday. The stock has a 50 day moving average of $132.13 and a two-hundred day moving average of $125.72. The stock has a market cap of $629.05 million, a P/E ratio of 19.28 and a beta of 0.60. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $145.28. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06.

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

Preformed Line Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.62%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s dividend payout ratio is presently 12.01%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

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.