Nuveen LLC Buys Shares of 109,491 Preformed Line Products Company $PLPC

Key Points

• Nuveen LLC purchased 109,491 shares of Preformed Line Products Company, valued at approximately $15.34 million, increasing its ownership to about 2.22% of the company.
• Several hedge funds, including GAMMA Investing LLC and New York State Common Retirement Fund, significantly boosted their stakes in Preformed Line Products during the first quarter.
• Wall Street analysts upgraded Preformed Line Products from a "buy" rating to a "strong-buy" rating, reflecting positive sentiment about the company's performance.

Nuveen LLC bought a new position in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 109,491 shares of the technology company's stock, valued at approximately $15,339,000. Nuveen LLC owned approximately 2.22% of Preformed Line Products as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of 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 worth $180,000 after acquiring an additional 314 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Preformed Line Products during the 1st quarter worth about $308,000. New York State Common Retirement Fund raised its position in shares of 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 worth $409,000 after acquiring an additional 1,600 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 worth $432,000 after acquiring an additional 3,072 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of 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 acquiring an additional 276 shares in the last quarter. Institutional investors and hedge funds own 41.19% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th.

Preformed Line Products Stock Performance

PLPC traded up $3.41 during trading on Tuesday, hitting $194.45. 68,355 shares of the stock were exchanged, compared to its average volume of 45,853. The firm has a market capitalization of $956.69 million, a P/E ratio of 22.72 and a beta of 0.79. Preformed Line Products Company has a 1-year low of $109.01 and a 1-year high of $195.15. The stock has a fifty day moving average price of $161.88 and a two-hundred day moving average price of $146.92. 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 released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.56 EPS for the quarter. The company had revenue of $169.60 million for the quarter. Preformed Line Products had a return on equity of 9.69% and a net margin of 6.70%.

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is 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.