Preformed Line Products (NASDAQ:PLPC) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in Preformed Line Products (NASDAQ:PLPC) by 17.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,460 shares of the technology company’s stock after selling 523 shares during the period. Exchange Traded Concepts LLC owned 0.05% of Preformed Line Products worth $315,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Preformed Line Products in the 2nd quarter worth about $27,000. Allspring Global Investments Holdings LLC bought a new position in Preformed Line Products in the 2nd quarter worth about $52,000. Mather Group LLC. acquired a new stake in shares of Preformed Line Products in the second quarter valued at approximately $64,000. SG Americas Securities LLC acquired a new stake in shares of Preformed Line Products in the third quarter valued at approximately $119,000. Finally, Ausbil Investment Management Ltd bought a new stake in shares of Preformed Line Products during the first quarter valued at approximately $195,000. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Stock Performance

Shares of PLPC stock opened at $125.20 on Friday. Preformed Line Products has a 12-month low of $104.96 and a 12-month high of $144.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.93 and a quick ratio of 1.57. The firm has a market capitalization of $614.73 million, a price-to-earnings ratio of 15.36 and a beta of 0.61. The business has a 50 day simple moving average of $120.30 and a 200 day simple moving average of $124.43.

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

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.80 annualized dividend and a yield of 0.64%. Preformed Line Products’s payout ratio is 9.82%.

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.