KLP Kapitalforvaltning AS Cuts Stock Holdings 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 reduced its position in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 56.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,400 shares of the technology company's stock after selling 3,100 shares during the period. KLP Kapitalforvaltning AS's holdings in Preformed Line Products were worth $336,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PLPC. American Century Companies Inc. boosted its holdings in shares of Preformed Line Products by 160.8% during the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company's stock worth $6,269,000 after purchasing an additional 30,245 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Preformed Line Products in the fourth quarter valued at approximately $1,712,000. Pullen Investment Management LLC lifted its holdings in Preformed Line Products by 128.4% in the first quarter. Pullen Investment Management LLC now owns 10,820 shares of the technology company's stock valued at $1,516,000 after acquiring an additional 6,082 shares during the last quarter. Denali Advisors LLC acquired a new position in Preformed Line Products in the first quarter valued at approximately $804,000. Finally, Nierenberg Investment Management Company Inc. acquired a new position in Preformed Line Products in the fourth quarter valued at approximately $582,000. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Trading Down 3.6%

PLPC traded down $5.53 during trading hours on Friday, reaching $148.80. The company's stock had a trading volume of 49,514 shares, compared to its average volume of 127,063. Preformed Line Products Company has a fifty-two week low of $109.01 and a fifty-two week high of $171.94. The stock has a market cap of $735.07 million, a PE ratio of 17.38 and a beta of 0.79. The business's 50-day moving average is $152.90 and its 200-day moving average is $142.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.81.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings data 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 for the quarter.

Preformed Line Products Announces Dividend

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

Wall Street Analyst Weigh In

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

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.