JPMorgan Chase & Co. Acquires 3,919 Shares of Preformed Line Products (NASDAQ:PLPC)

JPMorgan Chase & Co. boosted its stake in Preformed Line Products (NASDAQ:PLPC) by 93.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,119 shares of the technology company’s stock after acquiring an additional 3,919 shares during the period. JPMorgan Chase & Co. owned 0.17% of Preformed Line Products worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Preformed Line Products by 27.7% during the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock valued at $3,214,000 after purchasing an additional 5,442 shares in the last quarter. Ingalls & Snyder LLC purchased a new stake in Preformed Line Products in the third quarter worth about $521,000. Barclays PLC boosted its position in Preformed Line Products by 135.6% during the 3rd quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock valued at $638,000 after acquiring an additional 2,871 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Preformed Line Products during the 3rd quarter worth approximately $348,000. Finally, Summit Global Investments bought a new position in shares of Preformed Line Products in the 3rd quarter worth approximately $345,000. 41.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Preformed Line Products Stock Up 8.1 %

NASDAQ:PLPC opened at $141.80 on Friday. 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 firm’s 50-day moving average price is $130.79 and its 200-day moving average price is $126.08. The company has a market capitalization of $694.54 million, a PE ratio of 21.29 and a beta of 0.63. Preformed Line Products has a 1-year low of $109.01 and a 1-year high of $145.28.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.54 earnings per share 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 Tuesday, January 21st. Investors of record on Tuesday, January 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is presently 12.01%.

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.