Strs Ohio Takes $476,000 Position in Preformed Line Products Company $PLPC

Key Points

• Strs Ohio acquired a new stake in Preformed Line Products Company, buying 3,400 shares valued at approximately $476,000, representing about 0.07% ownership.
• Other institutional investors, such as MIRAE ASSET GLOBAL ETFS HOLDINGS and Vanguard Group, significantly increased their stakes in Preformed Line Products, with MIRAE ASSET lifting its stake by 15,654.6%.
• The company declared a quarterly dividend of $0.20 per share, payable on October 20th, with an annualized yield of 0.4% and a payout ratio of 9.35%.

Strs Ohio acquired a new position in shares of Preformed Line Products Company (NASDAQ:PLPC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,400 shares of the technology company's stock, valued at approximately $476,000. Strs Ohio owned about 0.07% of Preformed Line Products at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. SummerHaven Investment Management LLC boosted its stake in Preformed Line Products by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,574 shares of the technology company's stock worth $921,000 after acquiring an additional 95 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Preformed Line Products by 7.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,831 shares of the technology company's stock worth $537,000 after acquiring an additional 276 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Preformed Line Products by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 20,325 shares of the technology company's stock worth $2,847,000 after acquiring an additional 293 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Preformed Line Products by 2.7% during the 1st quarter. Teacher Retirement System of Texas now owns 12,743 shares of the technology company's stock worth $1,785,000 after acquiring an additional 335 shares during the last quarter. Finally, Cardinal Capital Management boosted its stake in Preformed Line Products by 5.8% during the 1st quarter. Cardinal Capital Management now owns 11,101 shares of the technology company's stock worth $1,555,000 after acquiring an additional 610 shares during the last quarter. Institutional investors own 41.19% of the company's stock.

Preformed Line Products Trading Up 2.2%

Preformed Line Products stock traded up $4.54 during midday trading on Monday, hitting $206.33. 75,023 shares of the stock were exchanged, compared to its average volume of 64,624. The company has a fifty day simple moving average of $174.73 and a two-hundred day simple moving average of $155.19. Preformed Line Products Company has a 52 week low of $118.99 and a 52 week high of $207.08. The stock has a market capitalization of $1.02 billion, a PE ratio of 24.10 and a beta of 0.79. The company has a quick ratio of 1.83, a current ratio of 3.08 and a debt-to-equity ratio of 0.06.

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

Preformed Line Products Announces Dividend

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

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.