Ausbil Investment Management Ltd Buys 3,752 Shares of Preformed Line Products (NASDAQ:PLPC)

Ausbil Investment Management Ltd lifted its holdings in Preformed Line Products (NASDAQ:PLPC - Free Report) by 222.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,436 shares of the technology company's stock after acquiring an additional 3,752 shares during the period. Ausbil Investment Management Ltd owned 0.11% of Preformed Line Products worth $701,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Preformed Line Products during the 3rd quarter valued at about $103,000. SG Americas Securities LLC purchased a new stake in shares of Preformed Line Products in the third quarter worth about $119,000. BNP Paribas Financial Markets boosted its stake in Preformed Line Products by 13.1% during the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company's stock valued at $304,000 after buying an additional 274 shares during the last quarter. Quest Partners LLC grew its holdings in Preformed Line Products by 62.4% during the 3rd quarter. Quest Partners LLC now owns 2,554 shares of the technology company's stock valued at $327,000 after buying an additional 981 shares in the last quarter. Finally, Summit Global Investments bought a new stake in Preformed Line Products in the 3rd quarter worth approximately $345,000. Hedge funds and other institutional investors own 41.19% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, November 19th.

Preformed Line Products Price Performance

Shares of NASDAQ:PLPC traded down $1.00 on Tuesday, reaching $142.77. The company's stock had a trading volume of 11,297 shares, compared to its average volume of 32,631. The company has a 50-day simple moving average of $131.90 and a 200 day simple moving average of $126.97. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $154.90. 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 cap of $699.55 million, a P/E ratio of 21.46 and a beta of 0.63.

Preformed Line Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $0.80 annualized dividend and a yield of 0.56%. Preformed Line Products's payout ratio is currently 12.01%.

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.