Jacobs Levy Equity Management Inc. Has $907,000 Position in Preformed Line Products (NASDAQ:PLPC)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Preformed Line Products (NASDAQ:PLPC - Free Report) by 37.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,085 shares of the technology company's stock after selling 4,231 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.14% of Preformed Line Products worth $907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Preformed Line Products by 5.0% during the first quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company's stock worth $9,398,000 after buying an additional 3,489 shares during the period. Easterly Investment Partners LLC bought a new stake in shares of Preformed Line Products in the second quarter worth $1,658,000. Bank of New York Mellon Corp grew its holdings in shares of Preformed Line Products by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company's stock valued at $3,411,000 after acquiring an additional 984 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Preformed Line Products in the second quarter valued at about $52,000. Finally, Innealta Capital LLC acquired a new position in Preformed Line Products during the second quarter valued at approximately $27,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Stock Performance

NASDAQ PLPC traded down $0.51 during trading on Monday, reaching $136.00. 3,886 shares of the company's stock were exchanged, compared to its average volume of 14,640. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The stock has a market capitalization of $666.40 million, a P/E ratio of 20.50 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 business has a 50 day moving average price of $129.99 and a 200-day moving average price of $125.89.

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

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st were 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 was Tuesday, October 1st. Preformed Line Products's payout ratio is 12.01%.

Wall Street Analyst Weigh In

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

Preformed Line Products 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.