Preformed Line Products Company $PLPC Stock Holdings Lifted by Royal Bank of Canada

Royal Bank of Canada lifted its stake in shares of Preformed Line Products Company (NASDAQ:PLPC) by 700.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,010 shares of the technology company’s stock after acquiring an additional 1,759 shares during the quarter. Royal Bank of Canada’s holdings in Preformed Line Products were worth $544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Preformed Line Products by 2,562.5% during the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after purchasing an additional 205 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Preformed Line Products by 199.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after purchasing an additional 199 shares in the last quarter. State of Wyoming acquired a new stake in Preformed Line Products during the 2nd quarter worth about $63,000. Huntington National Bank lifted its stake in Preformed Line Products by 55.5% during the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock valued at $64,000 after buying an additional 111 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of Preformed Line Products in the first quarter worth about $85,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLPC has been the topic of a number of recent analyst reports. Freedom Capital upgraded shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Weiss Ratings cut shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Wall Street Zen raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Preformed Line Products currently has a consensus rating of “Buy” and an average price target of $275.00.

Insider Buying and Selling at Preformed Line Products

In related news, Director Glen E. Corlett sold 2,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 33.00% of the company’s stock.

Preformed Line Products Price Performance

Shares of PLPC opened at $406.93 on Tuesday. The business’s 50-day moving average is $383.60 and its 200-day moving average is $334.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.88. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 45.83 and a beta of 0.91. Preformed Line Products Company has a fifty-two week low of $184.02 and a fifty-two week high of $504.69.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $2.08. The firm had revenue of $212.68 million for the quarter, compared to the consensus estimate of $193.00 million. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%.

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. Preformed Line Products’s dividend payout ratio is 9.46%.

Preformed Line Products Profile

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.