Janney Montgomery Scott LLC Lowers Stock Position in Preformed Line Products (NASDAQ:PLPC)

Janney Montgomery Scott LLC lowered its position in shares of Preformed Line Products (NASDAQ:PLPC) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,555 shares of the technology company’s stock after selling 359 shares during the quarter. Janney Montgomery Scott LLC owned about 0.07% of Preformed Line Products worth $454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in Preformed Line Products during the 3rd quarter worth approximately $103,000. SG Americas Securities LLC purchased a new position in shares of Preformed Line Products during the 3rd quarter valued at $119,000. BNP Paribas Financial Markets boosted its holdings in Preformed Line Products by 13.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock worth $304,000 after buying an additional 274 shares during the period. Quest Partners LLC raised its holdings in Preformed Line Products by 62.4% during the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after acquiring an additional 981 shares during the period. Finally, Summit Global Investments purchased a new position in shares of Preformed Line Products in the third quarter valued at about $345,000. Hedge funds and other institutional investors 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 research note on Tuesday, November 19th.

Preformed Line Products Stock Performance

NASDAQ PLPC opened at $146.73 on Monday. The firm has a market cap of $718.98 million, a price-to-earnings ratio of 22.03 and a beta of 0.63. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $132.61 and a 200-day moving average price of $127.63. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $154.90.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is 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.