Rhumbline Advisers cut its stake in Preformed Line Products (NASDAQ:PLPC) by 26.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,008 shares of the technology company’s stock after selling 1,095 shares during the quarter. Rhumbline Advisers owned approximately 0.06% of Preformed Line Products worth $267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Preformed Line Products by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 302,856 shares of the technology company’s stock worth $19,713,000 after acquiring an additional 6,211 shares during the period. Whittier Trust Co. bought a new position in Preformed Line Products during the second quarter worth about $215,000. Ramsey Quantitative Systems increased its position in Preformed Line Products by 61.4% during the second quarter. Ramsey Quantitative Systems now owns 2,998 shares of the technology company’s stock worth $266,000 after acquiring an additional 1,141 shares during the period. JPMorgan Chase & Co. increased its position in Preformed Line Products by 150.0% during the first quarter. JPMorgan Chase & Co. now owns 2,335 shares of the technology company’s stock worth $152,000 after acquiring an additional 1,401 shares during the period. Finally, UBS Group AG increased its position in Preformed Line Products by 169.2% during the first quarter. UBS Group AG now owns 1,987 shares of the technology company’s stock worth $130,000 after acquiring an additional 1,249 shares during the period. 45.22% of the stock is currently owned by institutional investors.

Separately, BidaskClub lowered shares of Preformed Line Products from a “hold” rating to a “sell” rating in a research report on Friday, September 14th.

NASDAQ:PLPC opened at $74.96 on Monday. Preformed Line Products has a 52 week low of $55.41 and a 52 week high of $96.83. The stock has a market cap of $377.55 million, a P/E ratio of 22.92 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 3.31.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Friday, August 3rd. The technology company reported $1.33 EPS for the quarter. Preformed Line Products had a net margin of 4.77% and a return on equity of 7.94%. The business had revenue of $108.92 million for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Tuesday, October 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Monday, October 1st.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.

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

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