KLP Kapitalforvaltning AS Trims Stake in Preformed Line Products Company (NASDAQ:PLPC)

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Preformed Line Products by 56.4% in Q1, owning 2,400 shares worth $336,000 after selling 3,100 shares.
• The company declared a $0.20 quarterly dividend, resulting in an annualized amount of $0.80 and a dividend yield of 0.57%.
• Preformed Line Products has a current market cap of $694.51 million with a PE ratio of 17.82 and a 12-month stock price range between $109.01 and $171.94.

KLP Kapitalforvaltning AS lowered its stake in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 56.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400 shares of the technology company's stock after selling 3,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Preformed Line Products were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in Preformed Line Products by 28.7% in 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 holdings in Preformed Line Products by 121.1% in the first 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 boosted its holdings in Preformed Line Products by 30,720.0% in the first 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. Janney Montgomery Scott LLC boosted its holdings in 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 worth $537,000 after acquiring an additional 276 shares in the last quarter. Finally, Nierenberg Investment Management Company Inc. acquired a new stake in Preformed Line Products in the fourth quarter worth about $582,000. Institutional investors own 41.19% of the company's stock.

Preformed Line Products Stock Down 3.6%

NASDAQ PLPC traded down $5.53 during trading on Friday, hitting $148.80. The company's stock had a trading volume of 49,514 shares, compared to its average volume of 62,170. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.81. The company has a market cap of $735.07 million, a PE ratio of 17.38 and a beta of 0.77. The business's 50 day simple moving average is $152.69 and its 200-day simple moving average is $142.53. Preformed Line Products Company has a fifty-two week low of $109.01 and a fifty-two week high of $171.94.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.56 EPS for the quarter. Preformed Line Products had a return on equity of 9.87% and a net margin of 6.70%. The firm had revenue of $169.60 million during the quarter.

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, July 20th. Investors of record on Tuesday, July 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.5%. Preformed Line Products's payout ratio is 10.14%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report 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.