Preformed Line Products Company $PLPC Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in shares of Preformed Line Products Company (NASDAQ:PLPC) by 11.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 966,185 shares of the technology company’s stock after purchasing an additional 100,113 shares during the quarter. HighTower Advisors LLC owned approximately 0.20% of Preformed Line Products worth $199,720,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in Preformed Line Products during the 3rd quarter worth $1,365,000. GSA Capital Partners LLP acquired a new position in Preformed Line Products during the 3rd quarter worth $670,000. Riverwater Partners LLC acquired a new position in Preformed Line Products during the 3rd quarter worth $628,000. SG Americas Securities LLC acquired a new position in Preformed Line Products during the 3rd quarter worth $467,000. Finally, Topline Capital Management LLC acquired a new position in Preformed Line Products during the 3rd quarter worth $413,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLPC has been the subject of several recent analyst reports. Loop Capital set a $275.00 price objective on shares of Preformed Line Products in a report on Monday, March 9th. Wall Street Zen lowered shares of Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings lowered shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Finally, Freedom Capital lowered shares of Preformed Line Products from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Preformed Line Products has a consensus rating of “Hold” and an average target price of $275.00.

Preformed Line Products Trading Down 3.5%

Shares of NASDAQ:PLPC opened at $335.43 on Tuesday. The company has a market cap of $1.64 billion, a PE ratio of 48.26 and a beta of 0.88. The company’s 50-day moving average price is $304.62 and its 200 day moving average price is $257.36. Preformed Line Products Company has a fifty-two week low of $133.27 and a fifty-two week high of $371.80. The company has a quick ratio of 1.78, a current ratio of 3.01 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.32. The firm had revenue of $176.28 million for the quarter, compared to the consensus estimate of $178.00 million. Preformed Line Products had a net margin of 4.92% and a return on equity of 8.96%.

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Wednesday, April 1st were given a $0.21 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.84 annualized dividend and a yield of 0.3%. Preformed Line Products’s dividend payout ratio (DPR) is currently 12.09%.

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.