Ranger Investment Management L.P. Makes New Investment in Preformed Line Products Company $PLPC

Key Points

• Ranger Investment Management purchased 19,339 shares of Preformed Line Products, valued at approximately $7.94 million, giving it a 0.40% stake. Institutional investors collectively own 41.19% of the company.
• Preformed Line Products reported quarterly earnings of $4.49 per share, significantly exceeding the $2.41 estimate, while revenue of $212.68 million also topped expectations. Analysts maintain a consensus “Buy” rating, with a $275 target price.
• PLPC shares opened at $429.30, near the upper end of their 52-week range, while director Glen E. Corlett sold 2,000 shares for about $914,000. The company also maintains a quarterly dividend of $0.21 per share, yielding approximately 0.2%.

Ranger Investment Management L.P. purchased a new position in Preformed Line Products Company (NASDAQ:PLPC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,339 shares of the technology company's stock, valued at approximately $7,940,000. Ranger Investment Management L.P. owned about 0.40% of Preformed Line Products as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC raised its holdings in shares of Preformed Line Products by 11.6% during the 4th quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company's stock valued at $199,720,000 after buying an additional 100,113 shares in the last quarter. Wasatch Advisors LP raised its holdings in Preformed Line Products by 234.3% in the 2nd quarter. Wasatch Advisors LP now owns 377,367 shares of the technology company's stock worth $154,932,000 after acquiring an additional 264,478 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Preformed Line Products during the second quarter valued at approximately $93,241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Preformed Line Products by 1.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,511 shares of the technology company's stock valued at $42,665,000 after acquiring an additional 2,768 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Preformed Line Products by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company's stock valued at $31,810,000 after acquiring an additional 7,426 shares during the period. Institutional investors own 41.19% of the company's stock.

Insiders Place Their Bets

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of Preformed Line Products stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 33.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Freedom Capital upgraded shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings downgraded Preformed Line Products from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Preformed Line Products presently has a consensus rating of "Buy" and a consensus target price of $275.00.

Preformed Line Products Price Performance

Shares of PLPC opened at $429.30 on Monday. Preformed Line Products Company has a 52 week low of $184.02 and a 52 week high of $504.69. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 48.34 and a beta of 0.91. The stock's 50-day moving average price is $383.07 and its 200-day moving average price is $333.96.

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

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.21 per share. 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 presently 9.46%.

Preformed Line Products Company 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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