Preformed Line Products Company $PLPC Shares Bought by Pullen Investment Management LLC

Pullen Investment Management LLC increased its holdings in Preformed Line Products Company (NASDAQ:PLPC) by 0.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,921 shares of the technology company’s stock after purchasing an additional 101 shares during the quarter. Pullen Investment Management LLC’s holdings in Preformed Line Products were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in PLPC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Preformed Line Products by 15,654.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,571 shares of the technology company’s stock worth $30,480,000 after acquiring an additional 216,190 shares during the period. Vanguard Group Inc. boosted its position in Preformed Line Products by 172.8% during the 1st quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company’s stock worth $25,945,000 after acquiring an additional 117,323 shares during the period. Nuveen LLC acquired a new position in Preformed Line Products during the 1st quarter worth $15,339,000. American Century Companies Inc. boosted its position in Preformed Line Products by 47.0% during the 1st quarter. American Century Companies Inc. now owns 72,137 shares of the technology company’s stock worth $10,106,000 after acquiring an additional 23,080 shares during the period. Finally, TrueMark Investments LLC acquired a new position in Preformed Line Products during the 2nd quarter worth $2,521,000. Institutional investors own 41.19% of the company’s stock.

Preformed Line Products Stock Performance

PLPC opened at $237.88 on Friday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 27.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.83. Preformed Line Products Company has a 1-year low of $118.99 and a 1-year high of $242.49. The business has a 50 day moving average price of $201.78 and a two-hundred day moving average price of $167.12.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, July 30th. The technology company reported $2.56 earnings per share for the quarter. The firm had revenue of $169.60 million during the quarter. Preformed Line Products had a return on equity of 9.69% and a net margin of 6.70%.

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, October 1st. Preformed Line Products’s payout ratio is 9.35%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.