Denali Advisors LLC Boosts Position in Preformed Line Products (NASDAQ:PLPC)

Denali Advisors LLC increased its holdings in Preformed Line Products (NASDAQ:PLPC) by 37.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,000 shares of the technology company’s stock after acquiring an additional 1,100 shares during the quarter. Denali Advisors LLC owned about 0.08% of Preformed Line Products worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Preformed Line Products by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock worth $49,222,000 after purchasing an additional 5,913 shares in the last quarter. Invesco Ltd. raised its stake in Preformed Line Products by 215.5% in the third quarter. Invesco Ltd. now owns 68,311 shares of the technology company’s stock worth $11,106,000 after buying an additional 46,656 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Preformed Line Products by 84.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,294 shares of the technology company’s stock worth $5,088,000 after buying an additional 14,363 shares during the period. FMR LLC boosted its position in Preformed Line Products by 0.7% during the 3rd quarter. FMR LLC now owns 20,906 shares of the technology company’s stock valued at $3,399,000 after acquiring an additional 155 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Preformed Line Products by 5.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,974 shares of the technology company’s stock valued at $1,871,000 after acquiring an additional 664 shares in the last quarter. Institutional investors own 41.19% of the company’s stock.

Preformed Line Products Stock Performance

Shares of Preformed Line Products stock opened at $122.64 on Thursday. Preformed Line Products has a 12 month low of $104.96 and a 12 month high of $184.82. The firm has a market capitalization of $603.39 million, a P/E ratio of 11.86 and a beta of 0.64. The company has a current ratio of 3.15, a quick ratio of 1.73 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $128.53 and a two-hundred day simple moving average of $128.30.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.94 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 8.20% and a return on equity of 12.67%. The company had revenue of $140.90 million during the quarter.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, July 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.65%. Preformed Line Products’s payout ratio is 7.74%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th.

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.