5,739 Shares in Preformed Line Products Company (NASDAQ:PLPC) Purchased by Denali Advisors LLC

Denali Advisors LLC purchased a new stake in Preformed Line Products Company (NASDAQ:PLPC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,739 shares of the technology company's stock, valued at approximately $804,000. Denali Advisors LLC owned approximately 0.12% of Preformed Line Products as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLPC. Wells Fargo & Company MN raised 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 worth $180,000 after acquiring an additional 314 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of 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 valued at $409,000 after purchasing an additional 1,600 shares in the last quarter. GAMMA Investing LLC raised its holdings in Preformed Line Products by 30,720.0% in 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 during the last quarter. Janney Montgomery Scott LLC raised its holdings in 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 purchasing an additional 276 shares during the last quarter. Finally, Nierenberg Investment Management Company Inc. acquired a new stake in shares of Preformed Line Products during the 4th quarter worth approximately $582,000. Hedge funds and other institutional investors own 41.19% of the company's stock.

Preformed Line Products Stock Up 1.9%

PLPC traded up $2.75 during trading on Wednesday, reaching $146.56. The stock had a trading volume of 17,830 shares, compared to its average volume of 39,884. The stock's 50 day moving average is $151.75 and its two-hundred day moving average is $141.72. The company has a current ratio of 3.08, a quick ratio of 1.81 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $723.98 million, a price-to-earnings ratio of 18.57 and a beta of 0.77. Preformed Line Products Company has a one year low of $109.01 and a one year high of $171.94.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 EPS for the quarter. The company had revenue of $148.54 million for the quarter. Preformed Line Products had a return on equity of 9.16% and a net margin of 6.49%.

Preformed Line Products Announces Dividend

The firm also recently announced 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 0.55%. The ex-dividend date of this dividend was Tuesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is presently 10.14%.

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 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.