Easterly Investment Partners LLC lowered its stake in Preformed Line Products (NASDAQ:PLPC - Free Report) by 43.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,896 shares of the technology company's stock after selling 5,293 shares during the quarter. Easterly Investment Partners LLC owned 0.14% of Preformed Line Products worth $881,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PLPC. SG Americas Securities LLC increased its stake in Preformed Line Products by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock valued at $135,000 after purchasing an additional 122 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Preformed Line Products by 13.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company's stock worth $304,000 after buying an additional 274 shares during the period. Walleye Capital LLC bought a new position in Preformed Line Products in the third quarter worth approximately $348,000. Private Advisor Group LLC grew its stake in Preformed Line Products by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company's stock valued at $365,000 after acquiring an additional 100 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Preformed Line Products by 21.3% during the third quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company's stock valued at $389,000 after acquiring an additional 556 shares in the last quarter. Institutional investors and hedge funds own 41.19% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.
Check Out Our Latest Stock Analysis on Preformed Line Products
Preformed Line Products Stock Down 0.7 %
PLPC traded down $0.99 during mid-day trading on Monday, reaching $141.74. 12,992 shares of the stock were exchanged, compared to its average volume of 28,318. Preformed Line Products has a 1 year low of $109.01 and a 1 year 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 stock has a market capitalization of $700.31 million, a PE ratio of 21.28 and a beta of 0.61. The company has a 50 day moving average price of $137.95 and a two-hundred day moving average price of $131.66.
Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share for the quarter. The business 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 annualized dividend and a yield of 0.56%. Preformed Line Products's dividend payout ratio is currently 10.67%.
Preformed Line Products Profile
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Free Report)
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.
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