First Trust Advisors LP Acquires 2,480 Shares of Preformed Line Products (NASDAQ:PLPC)

First Trust Advisors LP raised its position in shares of Preformed Line Products (NASDAQ:PLPC - Free Report) by 12.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,481 shares of the technology company's stock after buying an additional 2,480 shares during the quarter. First Trust Advisors LP owned about 0.46% of Preformed Line Products worth $2,873,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Martingale Asset Management L P increased its holdings in shares of Preformed Line Products by 0.9% in the 4th quarter. Martingale Asset Management L P now owns 9,131 shares of the technology company's stock worth $1,167,000 after acquiring an additional 80 shares during the period. Private Advisor Group LLC boosted its position in shares of 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 worth $365,000 after buying an additional 100 shares during the period. SG Americas Securities LLC grew its holdings in Preformed Line Products by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock worth $135,000 after buying an additional 122 shares in the last quarter. Invesco Ltd. increased its position in Preformed Line Products by 0.4% in the 4th quarter. Invesco Ltd. now owns 41,204 shares of the technology company's stock valued at $5,265,000 after acquiring an additional 172 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Preformed Line Products by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,760 shares of the technology company's stock worth $4,186,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 41.19% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Preformed Line Products from a "strong-buy" rating to a "buy" rating in a research note on Monday.

Preformed Line Products Price Performance

NASDAQ:PLPC traded down $0.18 during trading hours on Friday, reaching $135.38. 2,143 shares of the company's stock were exchanged, compared to its average volume of 18,019. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $154.90. The company has a market capitalization of $668.78 million, a P/E ratio of 20.33 and a beta of 0.75. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The business's 50-day simple moving average is $136.98 and its two-hundred day simple moving average is $134.58.

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

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st were given a $0.20 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.80 annualized dividend and a yield of 0.59%. Preformed Line Products's dividend payout ratio is 10.14%.

Preformed Line Products Company 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.