Victory Capital Management Inc. Reduces Holdings in Preformed Line Products (NASDAQ:PLPC)

Victory Capital Management Inc. lowered its position in Preformed Line Products (NASDAQ:PLPC) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,023 shares of the technology company’s stock after selling 158 shares during the quarter. Victory Capital Management Inc. owned about 0.35% of Preformed Line Products worth $2,180,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLPC. Innealta Capital LLC purchased a new position in shares of Preformed Line Products in the second quarter valued at $27,000. Allspring Global Investments Holdings LLC purchased a new position in Preformed Line Products during the 2nd quarter valued at about $52,000. Mather Group LLC. bought a new stake in shares of Preformed Line Products during the second quarter valued at about $64,000. SG Americas Securities LLC purchased a new stake in shares of Preformed Line Products in the third quarter worth about $119,000. Finally, Quest Partners LLC bought a new position in shares of Preformed Line Products in the second quarter valued at approximately $196,000. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Trading Up 1.7 %

Shares of PLPC stock opened at $138.52 on Monday. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $142.91. The business’s fifty day moving average is $127.15 and its 200 day moving average is $125.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The company has a market capitalization of $678.75 million, a PE ratio of 20.80 and a beta of 0.62.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share (EPS) for the quarter. The firm had revenue of $146.97 million during the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. Preformed Line Products’s dividend payout ratio is presently 12.01%.

Analyst Ratings Changes

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

Preformed Line Products 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.