Preformed Line Products Company $PLPC Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC reduced its holdings in Preformed Line Products by 42.1% during the 2nd quarter, leaving them with 2,220 shares worth approximately $355,000.
• The company reported $2.56 earnings per share and a revenue of $169.60 million for the last quarter, with a net margin of 6.70%.
• Preformed Line Products recently declared a quarterly dividend of $0.20 per share, representing an annualized dividend yield of 0.4%.

Janney Montgomery Scott LLC lowered its holdings in Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 42.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,220 shares of the technology company's stock after selling 1,611 shares during the period. Janney Montgomery Scott LLC's holdings in Preformed Line Products were worth $355,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its stake in shares of Preformed Line Products by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 6,677 shares of the technology company's stock worth $1,067,000 after purchasing an additional 103 shares during the last quarter. Ausbil Investment Management Ltd grew its stake in shares of Preformed Line Products by 1.6% in the 2nd quarter. Ausbil Investment Management Ltd now owns 6,716 shares of the technology company's stock worth $1,073,000 after purchasing an additional 108 shares during the last quarter. Cardinal Capital Management grew its stake in shares of Preformed Line Products by 2.5% in the 2nd quarter. Cardinal Capital Management now owns 11,374 shares of the technology company's stock worth $1,818,000 after purchasing an additional 273 shares during the last quarter. Southland Equity Partners LLC acquired a new position in shares of Preformed Line Products in the 2nd quarter worth approximately $221,000. Finally, Strs Ohio acquired a new position in shares of Preformed Line Products in the 1st quarter worth approximately $476,000. Institutional investors and hedge funds own 41.19% of the company's stock.

Preformed Line Products Stock Performance

Preformed Line Products stock opened at $225.60 on Friday. The firm's 50 day simple moving average is $196.09 and its 200-day simple moving average is $163.70. The company has a market cap of $1.11 billion, a P/E ratio of 26.36 and a beta of 0.75. 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 fifty-two week low of $118.99 and a fifty-two week high of $242.49.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.56 earnings per share for the quarter. The business 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 will be paid on Monday, October 20th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, October 1st. Preformed Line Products's dividend payout ratio (DPR) is currently 9.35%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Preformed Line Products from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

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.

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