Royce & Associates LP Sells 5,051 Shares of Preformed Line Products (NASDAQ:PLPC)

Royce & Associates LP reduced its stake in Preformed Line Products (NASDAQ:PLPC - Free Report) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,636 shares of the technology company's stock after selling 5,051 shares during the quarter. Royce & Associates LP owned 6.22% of Preformed Line Products worth $39,018,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLPC. Innealta Capital LLC bought a new stake in shares of Preformed Line Products in the second quarter valued at about $27,000. Allspring Global Investments Holdings LLC acquired a new position in Preformed Line Products during the 2nd quarter worth approximately $52,000. Mather Group LLC. bought a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $64,000. SG Americas Securities LLC acquired 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 worth $196,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Stock Down 2.3 %

Shares of NASDAQ:PLPC traded down $3.16 during midday trading on Friday, reaching $134.03. The company had a trading volume of 8,732 shares, compared to its average volume of 14,804. Preformed Line Products has a 1-year low of $109.01 and a 1-year high of $142.91. The stock has a market cap of $656.75 million, a PE ratio of 20.12 and a beta of 0.62. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The business's 50 day moving average price is $124.72 and its 200 day moving average price is $125.11.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its quarterly 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 Dividend Announcement

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

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 7th.

About Preformed Line Products

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.