Royce & Associates LP Has $26.11 Million Position in Preformed Line Products Company $PLPC

Royce & Associates LP decreased its position in Preformed Line Products Company (NASDAQ:PLPC) by 22.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 133,133 shares of the technology company’s stock after selling 38,953 shares during the quarter. Royce & Associates LP owned 2.72% of Preformed Line Products worth $26,114,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Preformed Line Products by 0.5% during the second quarter. Geode Capital Management LLC now owns 66,667 shares of the technology company’s stock worth $10,656,000 after buying an additional 317 shares during the last quarter. Franklin Resources Inc. grew its position in Preformed Line Products by 17.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,783 shares of the technology company’s stock worth $285,000 after acquiring an additional 259 shares during the last quarter. American Century Companies Inc. increased its holdings in Preformed Line Products by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock valued at $13,068,000 after purchasing an additional 9,637 shares in the last quarter. Prudential Financial Inc. bought a new position in Preformed Line Products in the 2nd quarter valued at $383,000. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Preformed Line Products by 9.3% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,818 shares of the technology company’s stock worth $12,596,000 after purchasing an additional 6,718 shares in the last quarter. 41.19% of the stock is owned by institutional investors.

Preformed Line Products Stock Performance

Shares of NASDAQ:PLPC opened at $253.65 on Monday. The company has a current ratio of 3.09, a quick ratio of 1.84 and a debt-to-equity ratio of 0.07. Preformed Line Products Company has a 1-year low of $118.99 and a 1-year high of $287.96. The stock has a market capitalization of $1.24 billion, a P/E ratio of 33.60 and a beta of 0.77. The business has a 50-day moving average price of $245.75 and a two-hundred day moving average price of $219.77.

Preformed Line Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, January 5th. This is a positive change from Preformed Line Products’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.3%. Preformed Line Products’s payout ratio is currently 11.13%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Preformed Line Products currently has an average rating of “Buy”.

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.