NewEdge Advisors LLC Buys New Position in Preformed Line Products Company $PLPC

NewEdge Advisors LLC purchased a new position in shares of Preformed Line Products Company (NASDAQ:PLPC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,250 shares of the technology company’s stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC increased its stake in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Preformed Line Products by 1.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,511 shares of the technology company’s stock worth $42,665,000 after acquiring an additional 2,768 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Preformed Line Products by 4.8% during the third quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company’s stock worth $31,810,000 after acquiring an additional 7,426 shares during the period. Wasatch Advisors LP acquired a new stake in shares of Preformed Line Products in the first quarter valued at $30,565,000. Finally, Invesco Ltd. boosted its holdings in Preformed Line Products by 25.7% in the fourth quarter. Invesco Ltd. now owns 79,299 shares of the technology company’s stock valued at $16,392,000 after purchasing an additional 16,223 shares during the period. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Wall Street Analyst Weigh In

PLPC has been the subject of several analyst reports. Wall Street Zen raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Preformed Line Products in a research note on Friday, July 24th. Finally, Freedom Capital downgraded Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $275.00.

Preformed Line Products Price Performance

Shares of PLPC opened at $423.60 on Wednesday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 47.70 and a beta of 0.91. The firm’s fifty day simple moving average is $361.63 and its 200-day simple moving average is $314.84. Preformed Line Products Company has a twelve month low of $148.04 and a twelve month high of $426.00. The company has a current ratio of 2.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $2.08. The firm had revenue of $212.68 million during the quarter, compared to the consensus estimate 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, July 1st. 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.