CM Management LLC Reduces Stake in Preformed Line Products Company $PLPC

Key Points

• CM Management LLC cut its stake by 10.7% in Preformed Line Products in Q4 to 25,000 shares, leaving the position as its 5th-largest holding (about 4.4% of its portfolio) and representing ~0.51% of PLPC worth $5.17 million.
• Analyst views are mixed but the consensus rating is a Buy with a consensus price target of $275, after recent downgrades from Wall Street Zen and Weiss and an upgrade to "strong-buy" from Freedom Capital.
• Preformed Line Products beat EPS estimates last quarter ($2.14 vs $1.82) while revenue slightly missed ($176.28M vs $178.00M); shares recently traded near $333.73, market cap ~$1.64B, P/E ~48, and the company pays a quarterly dividend of $0.21 (≈0.3% yield).

CM Management LLC cut its stake in Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the technology company's stock after selling 3,000 shares during the quarter. Preformed Line Products makes up approximately 4.4% of CM Management LLC's investment portfolio, making the stock its 5th largest holding. CM Management LLC owned approximately 0.51% of Preformed Line Products worth $5,168,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. bought a new stake in Preformed Line Products in the third quarter worth $1,365,000. Riverwater Partners LLC bought a new stake in Preformed Line Products in the third quarter worth $628,000. GSA Capital Partners LLP bought a new stake in Preformed Line Products in the third quarter worth $670,000. SG Americas Securities LLC bought a new stake in Preformed Line Products in the third quarter worth $467,000. Finally, Topline Capital Management LLC bought a new stake in Preformed Line Products in the third quarter worth $413,000. 41.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of Preformed Line Products from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Weiss Ratings downgraded shares of Preformed Line Products from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Loop Capital set a $275.00 price target on shares of Preformed Line Products in a research note on Monday, March 9th. Finally, Freedom Capital raised shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $275.00.

Preformed Line Products Stock Performance

Shares of NASDAQ:PLPC opened at $333.73 on Friday. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 48.02 and a beta of 0.88. The company has a 50-day moving average price of $285.91 and a 200-day moving average price of $248.73. The company has a current ratio of 3.17, a quick ratio of 1.87 and a debt-to-equity ratio of 0.07. Preformed Line Products Company has a 12 month low of $130.00 and a 12 month high of $365.60.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.82 by $0.32. The firm had revenue of $176.28 million during the quarter, compared to the consensus estimate of $178.00 million. Preformed Line Products had a net margin of 4.92% and a return on equity of 8.99%.

Preformed Line Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, April 1st. Preformed Line Products's dividend payout ratio is 12.09%.

About Preformed Line Products

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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