Bank of New York Mellon Corp Has $2.56 Million Position in Preformed Line Products (NASDAQ:PLPC)

Bank of New York Mellon Corp reduced its position in Preformed Line Products (NASDAQ:PLPC - Free Report) by 21.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,032 shares of the technology company's stock after selling 5,453 shares during the quarter. Bank of New York Mellon Corp owned about 0.41% of Preformed Line Products worth $2,560,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. WealthBridge Capital Management LLC boosted its position in shares of Preformed Line Products by 7.8% during the 4th quarter. WealthBridge Capital Management LLC now owns 7,651 shares of the technology company's stock worth $978,000 after acquiring an additional 551 shares in the last quarter. Private Advisor Group LLC boosted 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 valued at $365,000 after purchasing an additional 100 shares in the last quarter. Cardinal Capital Management increased its stake in shares of Preformed Line Products by 2.3% in the 4th quarter. Cardinal Capital Management now owns 10,491 shares of the technology company's stock valued at $1,341,000 after purchasing an additional 239 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Preformed Line Products during the 4th quarter worth $771,000. Finally, Ausbil Investment Management Ltd raised its holdings in shares of Preformed Line Products by 222.8% during the 4th quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company's stock worth $701,000 after buying an additional 3,752 shares in the last quarter. 41.19% of the stock is owned by institutional investors.

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Preformed Line Products Price Performance

Shares of Preformed Line Products stock traded up $4.99 during midday trading on Monday, hitting $146.85. 52,613 shares of the company traded hands, compared to its average volume of 16,348. The firm's fifty day moving average price is $135.89 and its 200-day moving average price is $130.55. The stock has a market cap of $725.59 million, a price-to-earnings ratio of 22.05 and a beta of 0.61. Preformed Line Products has a 12 month low of $109.01 and a 12 month 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.

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

Preformed Line Products Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. 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 note on Tuesday, March 18th.

Preformed Line Products Company 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.