Apis Capital Advisors LLC Makes New Investment in Preformed Line Products (NASDAQ:PLPC)

Apis Capital Advisors LLC purchased a new stake in shares of Preformed Line Products (NASDAQ:PLPC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,600 shares of the technology company’s stock, valued at approximately $573,000. Apis Capital Advisors LLC owned about 0.09% of Preformed Line Products as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Preformed Line Products by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock valued at $49,222,000 after buying an additional 5,913 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Preformed Line Products by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock valued at $9,398,000 after acquiring an additional 3,489 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Preformed Line Products by 0.3% in the second quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock worth $8,294,000 after acquiring an additional 200 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Preformed Line Products by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock worth $3,411,000 after purchasing an additional 984 shares during the last quarter. Finally, CM Management LLC lifted its position in Preformed Line Products by 48.6% during the first quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock valued at $3,345,000 after purchasing an additional 8,500 shares during the period. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Stock Down 2.1 %

Shares of PLPC stock opened at $120.32 on Monday. The company has a current ratio of 2.93, a quick ratio of 1.57 and a debt-to-equity ratio of 0.07. Preformed Line Products has a twelve month low of $104.96 and a twelve month high of $170.83. The stock has a 50 day moving average of $121.05 and a 200 day moving average of $124.78. The stock has a market cap of $591.73 million, a P/E ratio of 11.64 and a beta of 0.61.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.89 earnings per share for the quarter. Preformed Line Products had a net margin of 6.90% and a return on equity of 9.83%. The firm had revenue of $138.72 million during the quarter.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, October 1st. Preformed Line Products’s payout ratio is currently 7.74%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered 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.