Pullen Investment Management LLC Invests $605,000 in Preformed Line Products (NASDAQ:PLPC)

Pullen Investment Management LLC acquired a new position in Preformed Line Products (NASDAQ:PLPC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,738 shares of the technology company's stock, valued at approximately $605,000. Pullen Investment Management LLC owned about 0.10% of Preformed Line Products as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PLPC. American Century Companies Inc. boosted its position in Preformed Line Products by 160.8% during the fourth quarter. American Century Companies Inc. now owns 49,057 shares of the technology company's stock valued at $6,269,000 after buying an additional 30,245 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Preformed Line Products during the fourth quarter valued at approximately $1,764,000. Royce & Associates LP grew its holdings in shares of Preformed Line Products by 3.1% in the fourth quarter. Royce & Associates LP now owns 314,094 shares of the technology company's stock worth $40,138,000 after purchasing an additional 9,458 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Preformed Line Products in the fourth quarter worth $771,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Preformed Line Products during the 4th quarter valued at $703,000. Hedge funds and other institutional investors own 41.19% of the company's stock.

Analyst Upgrades and Downgrades

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

Preformed Line Products Trading Down 1.9%

Shares of PLPC stock traded down $2.82 during trading hours on Friday, reaching $143.98. The company's stock had a trading volume of 129,566 shares, compared to its average volume of 20,273. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. Preformed Line Products has a one year low of $109.01 and a one year high of $154.90. The stock has a market capitalization of $711.24 million, a P/E ratio of 21.61 and a beta of 0.75. The firm's fifty day simple moving average is $138.54 and its 200 day simple moving average is $135.71.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 earnings per share (EPS) for the quarter. The business had revenue of $148.54 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Tuesday, April 1st. Preformed Line Products's dividend payout ratio (DPR) is presently 10.14%.

Preformed Line Products Company 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.