CM Management LLC Has $5.17 Million Position in Preformed Line Products Company $PLPC

CM Management LLC trimmed its position in shares of Preformed Line Products Company (NASDAQ:PLPC) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the technology company’s stock after selling 3,000 shares during the period. Preformed Line Products comprises 4.4% of CM Management LLC’s portfolio, making the stock its 5th largest position. CM Management LLC’s holdings in Preformed Line Products were worth $5,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PLPC. Montag A & Associates Inc. purchased a new position in shares of Preformed Line Products during the third quarter valued at about $29,000. Huntington National Bank increased its position in shares of Preformed Line Products by 181.7% during the third quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after buying an additional 129 shares during the period. Russell Investments Group Ltd. increased its position 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 buying an additional 205 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Preformed Line Products by 199.0% during the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after buying an additional 199 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in shares of Preformed Line Products during the third quarter valued at about $51,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PLPC shares. Weiss Ratings cut shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Loop Capital set a $275.00 price target on shares of Preformed Line Products in a research report on Monday, March 9th. Wall Street Zen cut shares of Preformed Line Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Freedom Capital upgraded shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $275.00.

Preformed Line Products Price Performance

Shares of PLPC opened at $333.73 on Friday. The stock has a market cap of $1.64 billion, a PE ratio of 48.02 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.87 and a current ratio of 3.17. Preformed Line Products Company has a fifty-two week low of $130.00 and a fifty-two week high of $365.60. The firm’s 50-day simple moving average is $285.91 and its two-hundred day simple moving average is $248.73.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.32. The business had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $178.00 million. Preformed Line Products had a net margin of 4.92% and a return on equity of 8.99%.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Wednesday, April 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, April 1st. Preformed Line Products’s dividend payout ratio is 12.09%.

About Preformed Line Products

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.