UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Preformed Line Products (NASDAQ:PLPC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Preformed Line Products (NASDAQ:PLPC) by 14.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,611 shares of the technology company’s stock after selling 427 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.05% of Preformed Line Products worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Easterly Investment Partners LLC purchased a new stake in Preformed Line Products in the 2nd quarter valued at $1,658,000. Bank of New York Mellon Corp increased its stake in Preformed Line Products by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock valued at $3,411,000 after purchasing an additional 984 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Preformed Line Products in the second quarter valued at about $52,000. Innealta Capital LLC acquired a new stake in shares of Preformed Line Products during the second quarter worth about $27,000. Finally, Ausbil Investment Management Ltd grew its holdings in shares of Preformed Line Products by 190.8% during the second quarter. Ausbil Investment Management Ltd now owns 4,490 shares of the technology company’s stock worth $559,000 after buying an additional 2,946 shares during the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $124.19 on Friday. The stock has a fifty day moving average price of $131.53 and a 200 day moving average price of $125.88. Preformed Line Products has a 1-year low of $109.01 and a 1-year high of $145.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The company has a market cap of $608.28 million, a PE ratio of 18.65 and a beta of 0.60.

Preformed Line Products (NASDAQ:PLPC) last released its 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 company had revenue of $146.97 million during the quarter.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s payout ratio is 12.01%.

Wall Street Analysts Forecast Growth

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

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.