Preformed Line Products Company $PLPC Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Preformed Line Products Company by 19.0%, owning approximately $6.87 million worth of shares after acquiring 7,829 additional shares in the first quarter.
• Preformed Line Products announced a $0.20 quarterly dividend, which results in an annualized yield of 0.4% and indicates a low payout ratio of 9.35%.
• Wall Street analysts upgraded Preformed Line Products from a "buy" rating to a "strong-buy" rating, signaling increased confidence in the company's growth prospects.

Invesco Ltd. raised its holdings in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 19.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,033 shares of the technology company's stock after buying an additional 7,829 shares during the quarter. Invesco Ltd. owned about 0.99% of Preformed Line Products worth $6,869,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PLPC. GAMMA Investing LLC boosted 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 valued at $432,000 after acquiring an additional 3,072 shares during the last quarter. New York State Common Retirement Fund lifted its position 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 valued at $409,000 after buying an additional 1,600 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Preformed Line Products by 7.8% during the first quarter. Janney Montgomery Scott LLC now owns 3,831 shares of the technology company's stock worth $537,000 after purchasing an additional 276 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Preformed Line Products by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 20,325 shares of the technology company's stock worth $2,847,000 after purchasing an additional 293 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Preformed Line Products during the first quarter worth about $308,000. Hedge funds and other institutional investors own 41.19% of the company's stock.

Preformed Line Products Stock Down 3.3%

Shares of PLPC stock traded down $6.42 during trading hours on Monday, reaching $191.07. 79,105 shares of the stock were exchanged, compared to its average volume of 49,559. The business's fifty day moving average is $164.18 and its two-hundred day moving average is $148.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.83. Preformed Line Products Company has a 12-month low of $109.01 and a 12-month high of $197.56. The firm has a market capitalization of $940.06 million, a P/E ratio of 22.32 and a beta of 0.79.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last announced 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 net margin of 6.70% and a return on equity of 9.69%.

Preformed Line Products Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.4%. Preformed Line Products's dividend payout ratio (DPR) is currently 9.35%.

Analyst Ratings Changes

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