Ranger Investment Management L.P. purchased a new stake in Preformed Line Products Company (NASDAQ:PLPC - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,722 shares of the technology company's stock, valued at approximately $5,069,000. Ranger Investment Management L.P. owned 0.38% of Preformed Line Products at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of PLPC. Prudential Financial Inc. bought a new position in shares of Preformed Line Products during the second quarter valued at $383,000. Hsbc Holdings PLC bought a new stake in shares of Preformed Line Products in the 2nd quarter worth about $286,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Preformed Line Products by 45.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 23,497 shares of the technology company's stock worth $3,755,000 after purchasing an additional 7,332 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Preformed Line Products by 7.4% in the 2nd quarter. First Trust Advisors LP now owns 24,412 shares of the technology company's stock worth $3,901,000 after purchasing an additional 1,689 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Preformed Line Products during the 2nd quarter worth about $585,000. 41.19% of the stock is currently owned by institutional investors and hedge funds.
Preformed Line Products Price Performance
Preformed Line Products stock opened at $297.11 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 3.01. The firm has a market cap of $1.45 billion, a P/E ratio of 42.75 and a beta of 0.88. The business's fifty day moving average is $361.23 and its two-hundred day moving average is $310.63. Preformed Line Products Company has a 52 week low of $139.53 and a 52 week high of $414.35.
Preformed Line Products (NASDAQ:PLPC - Get Free Report) last announced its earnings results on Wednesday, April 29th. The technology company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.82 by $0.32. Preformed Line Products had a return on equity of 8.96% and a net margin of 4.92%.The company had revenue of $176.28 million for the quarter, compared to analysts' expectations of $178.00 million.
Preformed Line Products Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Wednesday, July 1st were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.84 annualized dividend and a yield of 0.3%. Preformed Line Products's dividend payout ratio is 12.09%.
Analyst Ratings Changes
Several brokerages recently issued reports on PLPC. Weiss Ratings downgraded shares of Preformed Line Products from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Freedom Capital cut shares of Preformed Line Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of Preformed Line Products from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $275.00.
Check Out Our Latest Report on Preformed Line Products
Preformed Line Products Company Profile
(
Free Report)
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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