Annis Gardner Whiting Capital Advisors LLC Makes New $308,000 Investment in Preformed Line Products Company (NASDAQ:PLPC)

Key Points

• Annis Gardner Whiting Capital Advisors LLC has made a new $308,000 investment in Preformed Line Products Company, acquiring 2,200 shares during the first quarter.
• Analysts have upgraded Preformed Line Products from a "buy" rating to a "strong-buy" rating, indicating a more positive outlook for the stock.
• The company also announced a quarterly dividend of $0.20 per share, which represents a 0.5% yield and a dividend payout ratio of 9.35%.

Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Preformed Line Products Company (NASDAQ:PLPC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,200 shares of the technology company's stock, valued at approximately $308,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Martingale Asset Management L P raised its position in Preformed Line Products by 0.9% in the 4th quarter. Martingale Asset Management L P now owns 9,131 shares of the technology company's stock worth $1,167,000 after purchasing an additional 80 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Preformed Line Products by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 6,574 shares of the technology company's stock valued at $921,000 after buying an additional 95 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Preformed Line Products by 0.4% in the fourth quarter. Invesco Ltd. now owns 41,204 shares of the technology company's stock worth $5,265,000 after buying an additional 172 shares during the period. Janney Montgomery Scott LLC lifted its stake 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 worth $537,000 after acquiring an additional 276 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Preformed Line Products by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 20,325 shares of the technology company's stock valued at $2,847,000 after acquiring an additional 293 shares during the period. Hedge funds and other institutional investors own 41.19% of the company's stock.

Analysts Set New Price Targets

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

Preformed Line Products Trading Up 3.4%

NASDAQ PLPC opened at $153.88 on Tuesday. Preformed Line Products Company has a 12 month low of $109.01 and a 12 month high of $171.94. The company's 50-day moving average price is $153.21 and its 200-day moving average price is $143.14. The stock has a market cap of $757.09 million, a PE ratio of 17.98 and a beta of 0.79. The company has a current ratio of 3.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.06.

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

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is presently 9.35%.

Preformed Line Products Company 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.

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