JPMorgan Chase & Co. boosted its stake in Preformed Line Products (NASDAQ:PLPC - Free Report) by 50.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,238 shares of the technology company's stock after purchasing an additional 4,119 shares during the quarter. JPMorgan Chase & Co. owned about 0.25% of Preformed Line Products worth $1,564,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of PLPC. Barclays PLC raised its position in shares of Preformed Line Products by 135.6% in the 3rd quarter. Barclays PLC now owns 4,989 shares of the technology company's stock valued at $638,000 after buying an additional 2,871 shares in the last quarter. Franklin Resources Inc. raised its position in Preformed Line Products by 21.3% during the third quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company's stock valued at $389,000 after purchasing an additional 556 shares in the last quarter. SG Americas Securities LLC raised its position in Preformed Line Products by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock valued at $135,000 after purchasing an additional 122 shares in the last quarter. Ausbil Investment Management Ltd lifted its stake in Preformed Line Products by 222.8% during the fourth quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company's stock worth $701,000 after purchasing an additional 3,752 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Preformed Line Products in the 4th quarter valued at $771,000. Institutional investors own 41.19% of the company's stock.
Preformed Line Products Price Performance
Shares of PLPC stock traded down $0.73 on Thursday, reaching $137.37. The company had a trading volume of 13,015 shares, compared to its average volume of 18,000. The business's 50-day moving average is $136.49 and its 200 day moving average is $134.14. The stock has a market capitalization of $678.73 million, a PE ratio of 20.61 and a beta of 0.65. Preformed Line Products has a one year low of $109.01 and a one year high of $154.90. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.
Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The technology company reported $2.13 earnings per share for the quarter. The company had revenue of $167.12 million for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.
Preformed Line Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Tuesday, April 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. Preformed Line Products's dividend payout ratio (DPR) is presently 10.67%.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.
Get Our Latest Report on PLPC
Preformed Line Products Profile
(
Free Report)
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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