Royce & Associates LP Cuts Stock Position in Preformed Line Products Company (NASDAQ:PLPC)

Royce & Associates LP reduced its position in Preformed Line Products Company (NASDAQ:PLPC - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,189 shares of the technology company's stock after selling 28,905 shares during the quarter. Royce & Associates LP owned approximately 5.77% of Preformed Line Products worth $39,952,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLPC. Geode Capital Management LLC increased its stake in shares of Preformed Line Products by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 64,704 shares of the technology company's stock worth $8,271,000 after buying an additional 381 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Preformed Line Products by 2.6% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 59,803 shares of the technology company's stock worth $7,642,000 after buying an additional 1,542 shares during the period. American Century Companies Inc. increased its stake in shares of 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 worth $6,269,000 after buying an additional 30,245 shares during the period. Invesco Ltd. increased its stake in shares of Preformed Line Products by 0.4% during the fourth quarter. Invesco Ltd. now owns 41,204 shares of the technology company's stock worth $5,265,000 after buying an additional 172 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Preformed Line Products by 1.2% during the fourth quarter. Northern Trust Corp now owns 35,732 shares of the technology company's stock worth $4,566,000 after buying an additional 429 shares during the period. 41.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Preformed Line Products Stock Up 0.7%

PLPC traded up $0.94 on Monday, reaching $142.18. The company's stock had a trading volume of 39,170 shares, compared to its average volume of 62,211. The stock has a 50 day moving average of $152.05 and a two-hundred day moving average of $142.19. The company has a quick ratio of 1.81, a current ratio of 3.08 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $702.37 million, a price-to-earnings ratio of 18.02 and a beta of 0.77. Preformed Line Products Company has a fifty-two week low of $109.01 and a fifty-two week high of $171.94.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 earnings per share for the quarter. The business had revenue of $148.54 million during the quarter. Preformed Line Products had a return on equity of 9.16% and a net margin of 6.49%.

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, July 20th. Stockholders of record on Tuesday, July 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Tuesday, July 1st. Preformed Line Products's payout ratio is currently 10.14%.

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.