Dimensional Fund Advisors LP lessened its stake in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,850 shares of the technology company's stock after selling 22,636 shares during the period. Dimensional Fund Advisors LP owned approximately 5.83% of Preformed Line Products worth $77,121,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its stake in shares of Preformed Line Products by 2,562.5% in the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company's stock worth $42,000 after acquiring an additional 205 shares during the last quarter. Royal Bank of Canada boosted its stake in Preformed Line Products by 132.4% in the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company's stock worth $52,000 after purchasing an additional 143 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Preformed Line Products by 199.0% in the 2nd 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 in the last quarter. Huntington National Bank grew its position in Preformed Line Products by 55.5% during the 4th quarter. Huntington National Bank now owns 311 shares of the technology company's stock valued at $64,000 after purchasing an additional 111 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in Preformed Line Products during the 1st quarter valued at about $85,000. 41.19% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PLPC. Weiss Ratings reissued a "hold (c+)" rating on shares of Preformed Line Products in a research report on Friday, July 24th. Wall Street Zen upgraded Preformed Line Products from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Finally, Freedom Capital lowered Preformed Line Products from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Preformed Line Products currently has an average rating of "Hold" and a consensus target price of $275.00.
Get Our Latest Stock Analysis on PLPC
Preformed Line Products Stock Up 30.0%
PLPC opened at $368.46 on Friday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 41.49 and a beta of 0.88. The firm has a 50 day moving average price of $360.70 and a 200-day moving average price of $311.93. Preformed Line Products Company has a twelve month low of $145.55 and a twelve month high of $414.35. The company has a quick ratio of 1.78, a current ratio of 3.01 and a debt-to-equity ratio of 0.07.
Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $2.08. The business had revenue of $212.68 million during the quarter, compared to the consensus estimate of $193.00 million. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.77%.
Preformed Line Products Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Wednesday, July 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, July 1st. Preformed Line Products's dividend payout ratio is 12.09%.
About Preformed Line Products
(
Free Report)
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.
Further Reading
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