Nierenberg Investment Management Company Inc. Acquires Shares of 4,555 Preformed Line Products (NASDAQ:PLPC)

Nierenberg Investment Management Company Inc. purchased a new stake in Preformed Line Products (NASDAQ:PLPC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,555 shares of the technology company's stock, valued at approximately $582,000. Preformed Line Products accounts for about 0.3% of Nierenberg Investment Management Company Inc.'s investment portfolio, making the stock its 28th biggest holding. Nierenberg Investment Management Company Inc. owned about 0.09% of Preformed Line Products at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLPC. JPMorgan Chase & Co. grew its holdings in shares of Preformed Line Products by 93.3% during the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company's stock valued at $1,040,000 after buying an additional 3,919 shares during the last quarter. Franklin Resources Inc. lifted its position in Preformed Line Products by 21.3% in the 3rd 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. FMR LLC boosted its stake in Preformed Line Products by 27.7% during the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company's stock valued at $3,214,000 after purchasing an additional 5,442 shares during the last quarter. Barclays PLC increased its holdings in Preformed Line Products by 135.6% during the 3rd quarter. Barclays PLC now owns 4,989 shares of the technology company's stock worth $638,000 after purchasing an additional 2,871 shares in the last quarter. Finally, Ausbil Investment Management Ltd raised its stake in shares of Preformed Line Products by 222.8% in the fourth quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company's stock worth $701,000 after purchasing an additional 3,752 shares during the last quarter. Institutional investors own 41.19% of the company's stock.

Wall Street Analyst Weigh In

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 Up 2.4 %

Shares of NASDAQ PLPC traded up $3.23 during trading on Friday, hitting $140.07. The stock had a trading volume of 12,662 shares, compared to its average volume of 17,864. The firm has a fifty day moving average of $137.54 and a two-hundred day moving average of $132.99. The company has a market capitalization of $692.09 million, a PE ratio of 21.03 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $154.90.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The technology company reported $2.13 earnings per share (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 $167.12 million during the quarter.

Preformed Line Products Announces Dividend

The firm 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. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. Preformed Line Products's dividend payout ratio (DPR) is currently 10.67%.

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.