MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $30.48 Million Holdings in Preformed Line Products Company $PLPC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has significantly increased its holdings in Preformed Line Products Company by 15,654.6% in the first quarter, owning approximately 4.40% of the company valued at $30.48 million.
• Institutional investors are actively engaging with Preformed Line Products, with Wells Fargo & Company increasing its position by 28.7% and New York State Common Retirement Fund growing its holdings by 121.1% during the same period.
• Wall Street recently upgraded Preformed Line Products' rating from "buy" to "strong-buy", indicating a positive outlook on the stock's performance.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 15,654.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,571 shares of the technology company's stock after purchasing an additional 216,190 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 4.40% of Preformed Line Products worth $30,480,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in Preformed Line Products by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock valued at $180,000 after purchasing an additional 314 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Preformed Line Products during the 1st quarter valued at $308,000. New York State Common Retirement Fund lifted its holdings in Preformed Line Products by 121.1% during 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 during the last quarter. GAMMA Investing LLC lifted its holdings in Preformed Line Products by 30,720.0% during the 1st quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company's stock valued at $432,000 after purchasing an additional 3,072 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Preformed Line Products by 7.8% in the first quarter. Janney Montgomery Scott LLC now owns 3,831 shares of the technology company's stock valued at $537,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 41.19% of the company's stock.

Preformed Line Products Stock Performance

Shares of Preformed Line Products stock traded down $1.21 during trading on Friday, reaching $197.42. The company's stock had a trading volume of 27,592 shares, compared to its average volume of 60,379. The business's 50-day moving average price is $169.96 and its 200-day moving average price is $151.20. The firm has a market cap of $971.28 million, a PE ratio of 23.06 and a beta of 0.79. Preformed Line Products Company has a 52 week low of $115.26 and a 52 week high of $199.27. The company has a quick ratio of 1.83, a current ratio of 3.08 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $2.56 earnings per share (EPS) for the quarter. The company had revenue of $169.60 million during the quarter. Preformed Line Products had a net margin of 6.70% and a return on equity of 9.69%.

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, July 20th. Stockholders of record on Tuesday, July 1st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, July 1st. Preformed Line Products's payout ratio is presently 9.35%.

About Preformed Line Products

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.