Preformed Line Products Company $PLPC Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Preformed Line Products by 47.0% in Q1, holding 72,137 shares valued at approximately $10.11 million.
• Several institutional investors, including Wells Fargo and Barclays, also raised their positions in Preformed Line Products, contributing to 41.19% of the stock being owned by institutional investors.
• Preformed Line Products reported earnings of $2.56 per share, with a revenue of $169.60 million for the last quarter and a recent quarterly dividend of $0.20 per share.

American Century Companies Inc. raised its stake in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 47.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 72,137 shares of the technology company's stock after purchasing an additional 23,080 shares during the period. American Century Companies Inc. owned approximately 1.46% of Preformed Line Products worth $10,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Preformed Line Products by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock valued at $180,000 after buying an additional 314 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Preformed Line Products during the 1st quarter valued at $308,000. New York State Common Retirement Fund lifted its stake in Preformed Line Products by 121.1% in the 1st quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company's stock worth $409,000 after purchasing an additional 1,600 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Preformed Line Products by 30,720.0% during the 1st quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company's stock valued at $432,000 after buying an additional 3,072 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Preformed Line Products by 7.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,831 shares of the technology company's stock valued at $537,000 after buying an additional 276 shares in the last quarter. Institutional investors own 41.19% of the company's stock.

Preformed Line Products Price Performance

Shares of PLPC traded down $6.42 during mid-day trading on Monday, hitting $191.07. 79,105 shares of the company were exchanged, compared to its average volume of 49,559. Preformed Line Products Company has a 1-year low of $109.01 and a 1-year high of $197.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.83 and a current ratio of 3.08. The company has a 50 day moving average of $164.94 and a 200-day moving average of $148.38. The stock has a market cap of $940.06 million, a price-to-earnings ratio of 22.32 and a beta of 0.79.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.56 EPS for the quarter. The company had revenue of $169.60 million during the quarter. Preformed Line Products had a net margin of 6.70% and a return on equity of 9.69%.

Preformed Line Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, July 20th. Investors of record on Tuesday, July 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is currently 9.35%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th.

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.