The Manufacturers Life Insurance Company Invests $292,000 in Preformed Line Products Company $PLPC

The Manufacturers Life Insurance Company bought a new position in shares of Preformed Line Products Company (NASDAQ:PLPC) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,078 shares of the technology company’s stock, valued at approximately $292,000.

A number of other large investors have also added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its position in Preformed Line Products by 65.7% during the first quarter. Quantinno Capital Management LP now owns 7,748 shares of the technology company’s stock worth $2,098,000 after purchasing an additional 3,072 shares during the period. First Trust Advisors LP raised its position in shares of Preformed Line Products by 28.9% in the first quarter. First Trust Advisors LP now owns 21,144 shares of the technology company’s stock valued at $5,725,000 after purchasing an additional 4,745 shares during the period. HighTower Advisors LLC lifted its stake in shares of Preformed Line Products by 11.6% during the 4th quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock worth $199,720,000 after buying an additional 100,113 shares during the last quarter. UBS Group AG lifted its stake in shares of Preformed Line Products by 199.2% during the 4th quarter. UBS Group AG now owns 22,629 shares of the technology company’s stock worth $4,678,000 after buying an additional 15,067 shares during the last quarter. Finally, Round Rock Advisors LLC boosted its holdings in shares of Preformed Line Products by 66.0% during the 4th quarter. Round Rock Advisors LLC now owns 7,805 shares of the technology company’s stock worth $1,613,000 after buying an additional 3,102 shares during the period. Institutional investors own 41.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Glen E. Corlett sold 2,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total value of $914,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 33.00% of the company’s stock.

Wall Street Analyst Weigh In

PLPC has been the topic of a number of research reports. Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Finally, Freedom Capital upgraded Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and an average target price of $275.00.

Preformed Line Products Price Performance

Preformed Line Products stock opened at $464.63 on Monday. The firm has a market cap of $2.27 billion, a PE ratio of 52.32 and a beta of 0.91. The stock’s fifty day moving average price is $375.91 and its two-hundred day moving average price is $327.28. Preformed Line Products Company has a one year low of $172.10 and a one year high of $504.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.88.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $2.41 by $2.08. The business had revenue of $212.68 million during the quarter, compared to analysts’ expectations 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 firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.21 per share. 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 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.