TrueMark Investments LLC Buys Shares of 15,778 Preformed Line Products Company $PLPC

Key Points

• TrueMark Investments LLC purchased 15,778 shares of Preformed Line Products Company, valued at approximately $2.5 million, representing a 0.32% stake in the company.
• Other institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS and Vanguard Group, significantly increased their positions in Preformed Line Products during the first quarter.
• The company declared a quarterly dividend of $0.20 per share, with a payout ratio of 9.35%, scheduled for payment on October 20th.

TrueMark Investments LLC bought a new stake in Preformed Line Products Company (NASDAQ:PLPC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,778 shares of the technology company's stock, valued at approximately $2,521,000. TrueMark Investments LLC owned 0.32% of Preformed Line Products as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Preformed Line Products by 15,654.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,571 shares of the technology company's stock valued at $30,480,000 after purchasing an additional 216,190 shares during the period. Vanguard Group Inc. raised its position in Preformed Line Products by 172.8% in the first quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company's stock valued at $25,945,000 after purchasing an additional 117,323 shares during the period. Nuveen LLC purchased a new stake in Preformed Line Products in the first quarter valued at $15,339,000. American Century Companies Inc. raised its position in Preformed Line Products by 47.0% in the first quarter. American Century Companies Inc. now owns 72,137 shares of the technology company's stock valued at $10,106,000 after purchasing an additional 23,080 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Preformed Line Products by 19.0% in the 1st quarter. Invesco Ltd. now owns 49,033 shares of the technology company's stock valued at $6,869,000 after buying an additional 7,829 shares during the period. Hedge funds and other institutional investors own 41.19% of the company's stock.

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $225.60 on Friday. The stock's 50-day moving average is $196.09 and its two-hundred day moving average is $163.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.83. Preformed Line Products Company has a 1-year low of $118.99 and a 1-year high of $242.49. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 26.36 and a beta of 0.75.

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

Preformed Line Products Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, October 1st. This represents a $0.80 annualized dividend and a yield of 0.4%. Preformed Line Products's dividend payout ratio is 9.35%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Preformed Line Products from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Preformed Line Products has an average rating of "Buy".

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.

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