KLP Kapitalforvaltning AS Invests $703,000 in Preformed Line Products (NASDAQ:PLPC)

KLP Kapitalforvaltning AS acquired a new position in shares of Preformed Line Products (NASDAQ:PLPC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,500 shares of the technology company's stock, valued at approximately $703,000. KLP Kapitalforvaltning AS owned 0.11% of Preformed Line Products at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Preformed Line Products by 93.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company's stock valued at $1,040,000 after acquiring an additional 3,919 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Preformed Line Products by 21.3% in the third quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company's stock valued at $389,000 after purchasing an additional 556 shares during the last quarter. FMR LLC lifted its position in shares of Preformed Line Products by 27.7% in the third quarter. FMR LLC now owns 25,091 shares of the technology company's stock worth $3,214,000 after purchasing an additional 5,442 shares in the last quarter. Ingalls & Snyder LLC acquired a new position in Preformed Line Products during the third quarter worth $521,000. Finally, Barclays PLC grew its position in Preformed Line Products by 135.6% in the third quarter. Barclays PLC now owns 4,989 shares of the technology company's stock valued at $638,000 after purchasing an additional 2,871 shares in the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th.

Preformed Line Products Stock Down 0.1 %

NASDAQ PLPC traded down $0.18 during trading hours on Friday, hitting $134.37. 29,983 shares of the company traded hands, compared to its average volume of 17,616. 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 business's 50-day moving average is $138.73 and its 200-day moving average is $132.43. The stock has a market capitalization of $663.92 million, a price-to-earnings ratio of 20.18 and a beta of 0.65. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $154.90.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The technology company reported $2.13 EPS for the quarter. The company had revenue of $167.12 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Tuesday, April 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. Preformed Line Products's payout ratio is 10.67%.

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.