Preformed Line Products Company $PLPC Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its holdings in Preformed Line Products Company (NASDAQ:PLPC) by 33.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,101 shares of the technology company’s stock after selling 2,514 shares during the quarter. Quantbot Technologies LP owned about 0.10% of Preformed Line Products worth $1,001,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Preformed Line Products by 6.6% during the 2nd quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock valued at $257,000 after acquiring an additional 100 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Preformed Line Products by 3.5% in the second quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company’s stock worth $611,000 after purchasing an additional 128 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Preformed Line Products by 199.0% in the second 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. Franklin Resources Inc. increased its holdings in shares of Preformed Line Products by 17.0% during the second quarter. Franklin Resources Inc. now owns 1,783 shares of the technology company’s stock valued at $285,000 after purchasing an additional 259 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Preformed Line Products during the third quarter valued at about $51,000. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PLPC shares. Wall Street Zen downgraded shares of Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of Preformed Line Products in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Preformed Line Products Stock Down 5.3%

PLPC opened at $235.72 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 3.09. The company has a market capitalization of $1.16 billion, a PE ratio of 33.01 and a beta of 0.76. The stock’s fifty day moving average is $249.17 and its 200-day moving average is $221.64. Preformed Line Products Company has a one year low of $118.99 and a one year high of $287.96.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Wednesday, March 4th. The technology company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.08. The business had revenue of $173.11 million during the quarter, compared to analysts’ expectations of $177.00 million. Preformed Line Products had a return on equity of 9.47% and a net margin of 5.27%.

Preformed Line Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th were given a dividend of $0.21 per share. This is a positive change from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, January 5th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Preformed Line Products’s payout ratio is 11.13%.

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.