Pullen Investment Management LLC Sells 5,904 Shares of Preformed Line Products Company $PLPC

Pullen Investment Management LLC reduced its holdings in Preformed Line Products Company (NASDAQ:PLPC) by 46.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,799 shares of the technology company’s stock after selling 5,904 shares during the quarter. Pullen Investment Management LLC owned about 0.14% of Preformed Line Products worth $1,405,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bosun Asset Management LLC bought a new stake in shares of Preformed Line Products in the second quarter valued at approximately $903,000. Quantbot Technologies LP increased its position in Preformed Line Products by 9,919.7% during the second quarter. Quantbot Technologies LP now owns 7,615 shares of the technology company’s stock worth $1,217,000 after acquiring an additional 7,539 shares during the period. Principal Financial Group Inc. acquired a new position in Preformed Line Products during the 3rd quarter valued at $1,365,000. GSA Capital Partners LLP bought a new stake in Preformed Line Products in the 3rd quarter valued at $670,000. Finally, Riverwater Partners LLC bought a new stake in Preformed Line Products in the 3rd quarter valued at $628,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PLPC. Wall Street Zen downgraded shares of Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Freedom Capital raised Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 9th. Loop Capital set a $275.00 price target on Preformed Line Products in a report on Monday, March 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, Preformed Line Products currently has a consensus rating of “Strong Buy” and an average target price of $275.00.

Preformed Line Products Stock Performance

NASDAQ PLPC opened at $302.78 on Friday. Preformed Line Products Company has a twelve month low of $128.00 and a twelve month high of $305.00. The company has a quick ratio of 1.87, a current ratio of 3.17 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.48 billion, a P/E ratio of 42.41 and a beta of 0.75. The company’s 50-day simple moving average is $264.14 and its 200 day simple moving average is $232.74.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.08. Preformed Line Products had a net margin of 5.27% and a return on equity of 9.36%. The firm had revenue of $173.11 million during the quarter, compared to analysts’ expectations of $177.00 million.

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Wednesday, April 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, April 1st. Preformed Line Products’s dividend payout ratio (DPR) is 11.76%.

Preformed Line Products Company 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.