Fmr LLC Purchases 5,442 Shares of Preformed Line Products (NASDAQ:PLPC)

FMR LLC raised its position in shares of Preformed Line Products (NASDAQ:PLPC - Free Report) by 27.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,091 shares of the technology company's stock after acquiring an additional 5,442 shares during the period. FMR LLC owned approximately 0.51% of Preformed Line Products worth $3,214,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Preformed Line Products in the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Preformed Line Products in the second quarter valued at approximately $52,000. Truvestments Capital LLC bought a new stake in shares of Preformed Line Products in the third quarter valued at approximately $103,000. SG Americas Securities LLC bought a new stake in shares of Preformed Line Products in the third quarter valued at approximately $119,000. Finally, Quest Partners LLC bought a new stake in shares of Preformed Line Products in the second quarter valued at approximately $196,000. 41.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Preformed Line Products Price Performance

Shares of PLPC stock traded up $0.64 during trading hours on Friday, reaching $132.83. The company's stock had a trading volume of 13,867 shares, compared to its average volume of 14,610. The firm's 50 day simple moving average is $130.95 and its 200-day simple moving average is $125.99. The company has a market capitalization of $650.87 million, a price-to-earnings ratio of 19.94 and a beta of 0.60. Preformed Line Products has a fifty-two week low of $109.01 and a fifty-two week high of $145.28. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The firm had revenue of $146.97 million for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, October 1st. Preformed Line Products's payout ratio is 12.01%.

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.