First Trust Advisors LP Purchases 4,745 Shares of Preformed Line Products Company $PLPC

Key Points

• First Trust Advisors increased its PLPC stake by 28.9%, purchasing 4,745 shares to bring its holdings to 21,144 shares valued at approximately $5.7 million. Institutional investors collectively own 41.19% of the company.
• Preformed Line Products reported quarterly EPS of $4.49, well above the $2.41 consensus estimate, while revenue of $212.68 million also exceeded analyst expectations of $193 million.
• PLPC shares opened at $358.15, near the upper end of their 52-week range, while analysts maintain an overall “Hold” rating with an average price target of $275—below the current share price.

First Trust Advisors LP raised its holdings in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 28.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,144 shares of the technology company's stock after acquiring an additional 4,745 shares during the quarter. First Trust Advisors LP owned approximately 0.43% of Preformed Line Products worth $5,725,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Preformed Line Products by 2,562.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company's stock valued at $42,000 after purchasing an additional 205 shares during the period. 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 during the period. 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 during the period. Huntington National Bank grew its holdings 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 buying an additional 111 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in Preformed Line Products during the 1st quarter valued at approximately $85,000. Hedge funds and other institutional investors own 41.19% of the company's stock.

Preformed Line Products Trading Up 0.3%

Shares of PLPC opened at $358.15 on Tuesday. The stock has a market capitalization of $1.75 billion, a PE ratio of 40.33 and a beta of 0.91. The company's fifty day moving average is $360.69 and its 200 day moving average is $313.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 3.01. Preformed Line Products Company has a fifty-two week low of $148.04 and a fifty-two week high of $414.35.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, beating the consensus estimate of $2.41 by $2.08. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.77%. The business had revenue of $212.68 million during the quarter, compared to analyst estimates of $193.00 million.

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, July 1st. Preformed Line Products's dividend payout ratio is currently 9.46%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Preformed Line Products in a report on Friday, July 24th. Freedom Capital cut shares of Preformed Line Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report on Saturday. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Preformed Line Products has an average rating of "Hold" and an average target price of $275.00.

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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