Fmr LLC Raises Stake in Preformed Line Products (NASDAQ:PLPC)

Fmr LLC lifted its position in shares of Preformed Line Products (NASDAQ:PLPC) by 27.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,091 shares of the technology company’s stock after purchasing an additional 5,442 shares during the quarter. Fmr LLC owned about 0.51% of Preformed Line Products worth $3,214,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PLPC. Easterly Investment Partners LLC purchased a new stake in shares of Preformed Line Products during the 2nd quarter worth about $1,658,000. Apis Capital Advisors LLC purchased a new position in Preformed Line Products in the 2nd quarter worth approximately $573,000. Koss Olinger Consulting LLC purchased a new position in Preformed Line Products in the 2nd quarter worth approximately $447,000. Vanguard Group Inc. boosted its holdings in Preformed Line Products by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock worth $9,398,000 after acquiring an additional 3,489 shares during the period. Finally, Ausbil Investment Management Ltd boosted its holdings in Preformed Line Products by 190.8% in the 2nd quarter. Ausbil Investment Management Ltd now owns 4,490 shares of the technology company’s stock worth $559,000 after acquiring an additional 2,946 shares during the period. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th.

Preformed Line Products Stock Up 0.5 %

NASDAQ PLPC opened at $132.83 on Friday. The stock has a market cap of $650.87 million, a PE ratio of 19.94 and a beta of 0.60. Preformed Line Products has a fifty-two week low of $109.01 and a fifty-two week high of $145.28. The business has a 50 day moving average price of $130.95 and a two-hundred day moving average price of $126.04. 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) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 EPS for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The business had revenue of $146.97 million for the quarter.

Preformed Line Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Tuesday, October 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. Preformed Line Products’s dividend payout ratio is presently 12.01%.

About Preformed Line Products

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.