Preformed Line Products (NASDAQ:PLPC) Stake Lifted by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC increased its position in shares of Preformed Line Products (NASDAQ:PLPC) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,574 shares of the technology company’s stock after purchasing an additional 95 shares during the period. SummerHaven Investment Management LLC owned 0.13% of Preformed Line Products worth $921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock worth $180,000 after acquiring an additional 314 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Preformed Line Products by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company’s stock worth $365,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC lifted its stake in Preformed Line Products by 30,720.0% during the first quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company’s stock valued at $432,000 after purchasing an additional 3,072 shares during the last quarter. Nierenberg Investment Management Company Inc. acquired a new stake in Preformed Line Products during the fourth quarter valued at approximately $582,000. Finally, Pullen Investment Management LLC bought a new stake in Preformed Line Products during the fourth quarter worth approximately $605,000. Institutional investors own 41.19% of the company’s stock.

Preformed Line Products Stock Performance

Shares of Preformed Line Products stock opened at $154.94 on Thursday. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $155.76. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The stock has a market cap of $765.40 million, a PE ratio of 23.26 and a beta of 0.75. The business has a fifty day simple moving average of $139.31 and a 200-day simple moving average of $136.32.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The business had revenue of $148.54 million during the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th.

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.