B. Metzler seel. Sohn & Co. AG Purchases 5,985 Shares of Preformed Line Products Company $PLPC

Key Points

• B. Metzler seel. Sohn & Co. AG increased its PLPC stake by 285.3% in the second quarter, buying 5,985 shares to own 8,083 shares valued at approximately $3.32 million. Institutional investors collectively hold 41.19% of the company.
• Analyst sentiment remains generally positive, with an average rating of “Buy” and a $275 price target, although Weiss Ratings downgraded the stock to “Hold” while other firms upgraded it to “Strong Buy.”
• 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 $398.45 and has a 52-week range of $184.02 to $504.69.

B. Metzler seel. Sohn & Co. AG boosted its position in Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 285.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,083 shares of the technology company's stock after purchasing an additional 5,985 shares during the quarter. B. Metzler seel. Sohn & Co. AG owned approximately 0.17% of Preformed Line Products worth $3,319,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PLPC. Russell Investments Group Ltd. increased its holdings in Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company's stock worth $42,000 after buying an additional 205 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Preformed Line Products by 199.0% in the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company's stock worth $48,000 after purchasing an additional 199 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Preformed Line Products by 132.4% during the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company's stock valued at $52,000 after purchasing an additional 143 shares during the period. State of Wyoming purchased a new stake in shares of Preformed Line Products during the 2nd quarter valued at about $63,000. Finally, Huntington National Bank raised its position in Preformed Line Products by 55.5% in the fourth 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 period. Institutional investors own 41.19% of the company's stock.

Analysts Set New Price Targets

PLPC has been the subject of several recent research reports. Weiss Ratings lowered Preformed Line Products from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Freedom Capital raised Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research note 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $275.00.

Preformed Line Products Stock Performance

Preformed Line Products stock opened at $398.45 on Friday. The company has a 50 day moving average price of $386.50 and a 200-day moving average price of $342.64. 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 fifty-two week low of $184.02 and a fifty-two week high of $504.69. The company has a market capitalization of $1.95 billion, a PE ratio of 44.87 and a beta of 0.93.

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

Insider Buying and Selling at Preformed Line Products

In related news, Director Glen E. Corlett sold 2,000 shares of Preformed Line Products stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total value of $914,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 33.00% of the stock is owned by insiders.

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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