3,047 Shares in Preformed Line Products Company $PLPC Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG acquired 3,047 shares of Preformed Line Products worth approximately $1.25 million, while institutional investors collectively owned 41.19% of the company.
• Preformed Line Products reported quarterly EPS of $4.49, exceeding the $2.41 consensus estimate, while revenue of $212.68 million also surpassed expectations.
• The stock opened at $404.05, with a market capitalization of roughly $1.98 billion. Analyst opinions were mixed, resulting in an average “Buy” rating despite a $275 price target, well below the current share price.

Deutsche Bank AG acquired a new stake in Preformed Line Products Company (NASDAQ:PLPC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,047 shares of the technology company's stock, valued at approximately $1,251,000. Deutsche Bank AG owned about 0.06% of Preformed Line Products at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Preformed Line Products by 2,562.5% in the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company's stock valued at $42,000 after buying an additional 205 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Preformed Line Products by 199.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company's stock worth $48,000 after acquiring an additional 199 shares during the period. Royal Bank of Canada increased its holdings in Preformed Line Products by 132.4% in the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company's stock worth $52,000 after acquiring an additional 143 shares during the last quarter. State of Wyoming purchased a new stake in Preformed Line Products in the 2nd quarter worth about $63,000. Finally, Huntington National Bank increased its holdings in Preformed Line Products by 55.5% in the 4th quarter. Huntington National Bank now owns 311 shares of the technology company's stock worth $64,000 after acquiring an additional 111 shares during the last quarter. 41.19% of the stock is owned by institutional investors.

Preformed Line Products Stock Performance

NASDAQ:PLPC opened at $404.05 on Friday. The business's fifty day moving average is $386.48 and its 200 day moving average is $338.47. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 45.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 2.99. Preformed Line Products Company has a 52-week low of $184.02 and a 52-week high of $504.69.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, topping the consensus estimate of $2.41 by $2.08. The business had revenue of $212.68 million during the quarter, compared to the consensus estimate of $193.00 million. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%.

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is 9.46%.

Insider Activity at Preformed Line Products

In related news, Director Glen E. Corlett sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 33.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on PLPC shares. Weiss Ratings downgraded shares of Preformed Line Products from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Freedom Capital upgraded shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $275.00.

Preformed Line Products Profile

Preformed Line Products Company NASDAQ: PLPC is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.

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