Preformed Line Products (NASDAQ:PLPC) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its holdings in shares of Preformed Line Products (NASDAQ:PLPC - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,551 shares of the technology company's stock after selling 2,938 shares during the period. Two Sigma Investments LP owned 0.09% of Preformed Line Products worth $582,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in Preformed Line Products by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock valued at $135,000 after acquiring an additional 122 shares in the last quarter. Wells Fargo & Company MN boosted its position in Preformed Line Products by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock valued at $180,000 after purchasing an additional 314 shares in the last quarter. Private Advisor Group LLC boosted its position in Preformed Line Products by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company's stock valued at $365,000 after purchasing an additional 100 shares in the last quarter. Nierenberg Investment Management Company Inc. purchased a new position in Preformed Line Products in the fourth quarter valued at about $582,000. Finally, Barclays PLC grew its stake in Preformed Line Products by 8.5% in the fourth quarter. Barclays PLC now owns 5,413 shares of the technology company's stock valued at $692,000 after purchasing an additional 424 shares during the last quarter. 41.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 Performance

NASDAQ:PLPC traded up $1.90 during trading hours on Thursday, hitting $156.84. 47,569 shares of the company were exchanged, compared to its average volume of 24,614. The company's 50 day moving average price is $139.31 and its 200-day moving average price is $136.32. The stock has a market capitalization of $774.79 million, a price-to-earnings ratio of 23.55 and a beta of 0.75. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $157.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share (EPS) for the quarter. The firm had revenue of $148.54 million for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

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.