Preformed Line Products (NASDAQ:PLPC) Shares Sold by LSV Asset Management

LSV Asset Management lessened its stake in shares of Preformed Line Products (NASDAQ:PLPC - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,774 shares of the technology company's stock after selling 6,039 shares during the quarter. LSV Asset Management owned about 0.93% of Preformed Line Products worth $5,849,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in Preformed Line Products by 160.8% during the fourth quarter. American Century Companies Inc. now owns 49,057 shares of the technology company's stock worth $6,269,000 after acquiring an additional 30,245 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Preformed Line Products during the fourth quarter worth $1,764,000. Royce & Associates LP boosted its holdings in shares of Preformed Line Products by 3.1% during the fourth quarter. Royce & Associates LP now owns 314,094 shares of the technology company's stock worth $40,138,000 after purchasing an additional 9,458 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Preformed Line Products in the fourth quarter valued at $771,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Preformed Line Products in the fourth quarter valued at $703,000. Hedge funds and other institutional investors 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.

Preformed Line Products Stock Down 2.5 %

Shares of NASDAQ:PLPC traded down $3.44 during midday trading on Friday, hitting $136.91. 25,016 shares of the company's stock traded hands, compared to its average volume of 17,937. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $154.90. The company has a market cap of $676.47 million, a PE ratio of 20.56 and a beta of 0.65. 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 firm's fifty day moving average price is $137.04 and its two-hundred day moving average price is $133.19.

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

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, April 1st. Preformed Line Products's payout ratio is 10.67%.

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.