Dalton Greiner Hartman Maher & Co. grew its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 16.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 98,222 shares of the technology company’s stock after buying an additional 13,690 shares during the quarter. Dalton Greiner Hartman Maher & Co.’s holdings in Preformed Line Products were worth $6,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of Preformed Line Products by 1.0% during the second quarter. Rhumbline Advisers now owns 4,731 shares of the technology company’s stock valued at $220,000 after purchasing an additional 45 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Preformed Line Products by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 10,219 shares of the technology company’s stock worth $475,000 after acquiring an additional 57 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Preformed Line Products by 5.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 8,232 shares of the technology company’s stock worth $382,000 after acquiring an additional 415 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Preformed Line Products by 10.8% in the 2nd quarter. California State Teachers Retirement System now owns 5,603 shares of the technology company’s stock worth $260,000 after acquiring an additional 544 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Preformed Line Products by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,676 shares of the technology company’s stock worth $1,285,000 after acquiring an additional 569 shares during the last quarter. Hedge funds and other institutional investors own 44.88% of the company’s stock.

Shares of Preformed Line Products (PLPC) opened at $81.35 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.15 and a quick ratio of 2.00. Preformed Line Products has a fifty-two week low of $44.50 and a fifty-two week high of $85.63. The firm has a market cap of $419.48, a PE ratio of 24.43 and a beta of 1.33.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Friday, November 3rd. The technology company reported $1.23 earnings per share for the quarter. Preformed Line Products had a net margin of 4.64% and a return on equity of 7.30%. The company had revenue of $99.24 million for the quarter.

Preformed Line Products announced that its board has authorized a share buyback program on Thursday, December 14th that allows the company to repurchase 250,000 outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Tuesday, January 2nd will be issued a $0.20 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. Preformed Line Products’s dividend payout ratio is presently 24.02%.

In related news, VP J Cecil Curlee, Jr. sold 3,130 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $68.50, for a total value of $214,405.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 37.70% of the company’s stock.

Separately, BidaskClub lowered shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 3rd.

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Preformed Line Products Profile

Preformed Line Products Company (PLPC) is a designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators and information industries. The Company’s products include Formed Wire and Related Hardware Products, Protective Closures, Plastic Products and Other Products.

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Institutional Ownership by Quarter for Preformed Line Products (NASDAQ:PLPC)

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