Southland Equity Partners LLC Acquires Shares of 1,384 Preformed Line Products Company $PLPC

Key Points

• Southland Equity Partners LLC has acquired a new stake in Preformed Line Products Company, purchasing 1,384 shares valued at approximately $221,000.
• Other institutional investors have also shown interest, with Pullen Investment Management purchasing a stake worth $605,000 and Universal Beteiligungs investing about $1.7 million in the fourth quarter.
• The company is set to issue a quarterly dividend of $0.20 per share on October 20th, resulting in an annualized yield of 0.4% and a payout ratio of 9.35%.

Southland Equity Partners LLC purchased a new position in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,384 shares of the technology company's stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Preformed Line Products by 30,720.0% during the 1st quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company's stock valued at $432,000 after purchasing an additional 3,072 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Preformed Line Products by 121.1% during the 1st quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company's stock worth $409,000 after purchasing an additional 1,600 shares during the period. Janney Montgomery Scott LLC increased its position in Preformed Line Products by 7.8% in the first quarter. Janney Montgomery Scott LLC now owns 3,831 shares of the technology company's stock worth $537,000 after buying an additional 276 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Preformed Line Products by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 20,325 shares of the technology company's stock valued at $2,847,000 after purchasing an additional 293 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Preformed Line Products in the 1st quarter valued at approximately $308,000. Institutional investors own 41.19% of the company's stock.

Preformed Line Products Stock Up 2.2%

NASDAQ PLPC traded up $4.54 during trading on Monday, hitting $206.33. The stock had a trading volume of 75,023 shares, compared to its average volume of 64,624. The company has a market capitalization of $1.02 billion, a PE ratio of 24.10 and a beta of 0.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.83 and a current ratio of 3.08. Preformed Line Products Company has a 12 month low of $118.99 and a 12 month high of $207.08. The company's 50-day moving average price is $174.73 and its two-hundred day moving average price is $155.19.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.56 EPS for the quarter. The firm had revenue of $169.60 million during the quarter. Preformed Line Products had a return on equity of 9.69% and a net margin of 6.70%.

Preformed Line Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Wednesday, October 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Preformed Line Products's dividend payout ratio (DPR) is currently 9.35%.

Preformed Line Products 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.