Preformed Line Products (NASDAQ:PLPC) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Preformed Line Products (NASDAQ:PLPC - Free Report) by 31.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,964 shares of the technology company's stock after selling 7,351 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.33% of Preformed Line Products worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of Preformed Line Products by 160.8% during the fourth quarter. American Century Companies Inc. now owns 49,057 shares of the technology company's stock valued at $6,269,000 after purchasing an additional 30,245 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Preformed Line Products during the fourth quarter worth $1,764,000. Royce & Associates LP boosted its position in Preformed Line Products by 3.1% during the 4th quarter. Royce & Associates LP now owns 314,094 shares of the technology company's stock valued at $40,138,000 after acquiring an additional 9,458 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Preformed Line Products in the 4th quarter valued at $771,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Preformed Line Products in the 4th quarter worth $703,000. Hedge funds and other institutional investors own 41.19% of the company's stock.

Preformed Line Products Stock Down 1.6 %

Shares of Preformed Line Products stock traded down $2.17 on Wednesday, reaching $136.45. The stock had a trading volume of 3,542 shares, compared to its average volume of 17,805. 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 capitalization of $674.19 million, a P/E ratio of 20.42 and a beta of 0.65. The company has a 50 day moving average price of $137.26 and a 200 day moving average price of $133.08. Preformed Line Products has a 1 year low of $109.01 and a 1 year high of $154.90.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last announced its earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share for the quarter. The company had revenue of $167.12 million during the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Tuesday, April 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, April 1st. Preformed Line Products's dividend payout ratio is currently 10.67%.

Wall Street Analysts Forecast Growth

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

About Preformed Line Products

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.