Quantinno Capital Management LP Buys 3,072 Shares of Preformed Line Products Company $PLPC

Key Points

• Quantinno Capital Management increased its Preformed Line Products stake by 65.7% in the first quarter, acquiring 3,072 shares and bringing its holdings to 7,748 shares valued at approximately $2.1 million.
• Preformed Line Products reported a strong quarter, with EPS of $4.49 versus the $2.41 consensus estimate and revenue of $212.68 million, above expectations of $193 million.
• The stock opened at $462.63, near its 52-week high, while an insider sold 2,000 shares. Several brokerages upgraded PLPC, although its $275 consensus price target is well below the current share price.

Quantinno Capital Management LP grew its stake in Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 65.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,748 shares of the technology company's stock after acquiring an additional 3,072 shares during the quarter. Quantinno Capital Management LP owned about 0.16% of Preformed Line Products worth $2,098,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PLPC. First Trust Advisors LP lifted its stake in shares of Preformed Line Products by 28.9% during the 1st quarter. First Trust Advisors LP now owns 21,144 shares of the technology company's stock worth $5,725,000 after purchasing an additional 4,745 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Preformed Line Products by 9.9% in the first quarter. Principal Financial Group Inc. now owns 11,548 shares of the technology company's stock worth $3,127,000 after purchasing an additional 1,038 shares in the last quarter. Fifth Third Bancorp bought a new position in Preformed Line Products in the first quarter worth about $85,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Preformed Line Products during the first quarter valued at about $255,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Preformed Line Products during the first quarter valued at about $417,000. 41.19% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Glen E. Corlett sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total value of $914,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 33.00% of the stock is currently owned by insiders.

Preformed Line Products Stock Down 0.9%

NASDAQ:PLPC opened at $462.63 on Tuesday. The company has a market cap of $2.26 billion, a PE ratio of 52.10 and a beta of 0.91. Preformed Line Products Company has a twelve month low of $158.97 and a twelve month high of $497.00. The company has a current ratio of 2.99, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $368.79 and its two-hundred day moving average is $321.03.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $2.08. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%.The company had revenue of $212.68 million during the quarter, compared to analyst estimates of $193.00 million.

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. Preformed Line Products's dividend payout ratio is currently 9.46%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLPC. Weiss Ratings raised shares of Preformed Line Products from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. Freedom Capital raised shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, Preformed Line Products has an average rating of "Strong Buy" and a consensus target price of $275.00.

Preformed Line Products Profile

Preformed Line Products Company NASDAQ: PLPC is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.

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