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

Pullen Investment Management LLC lessened its position in Preformed Line Products Company (NASDAQ:PLPC) by 46.5% during the 4th quarter, Holdings Channel reports. The firm owned 6,799 shares of the technology company’s stock after selling 5,904 shares during the quarter. Pullen Investment Management LLC’s holdings in Preformed Line Products were worth $1,405,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Montag A & Associates Inc. acquired a new stake in shares of Preformed Line Products during the 3rd quarter worth about $29,000. Huntington National Bank lifted its holdings in Preformed Line Products by 181.7% during the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after purchasing an additional 129 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Preformed Line Products by 2,562.5% in the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after buying an additional 205 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Preformed Line Products in the third quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC grew its stake in Preformed Line Products by 199.0% during the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after buying an additional 199 shares during the last quarter. Institutional investors own 41.19% of the company’s stock.

Preformed Line Products Price Performance

Shares of NASDAQ:PLPC opened at $302.78 on Friday. Preformed Line Products Company has a 12 month low of $128.00 and a 12 month high of $305.00. The company’s 50-day moving average price is $264.14 and its two-hundred day moving average price is $232.74. 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 firm has a market cap of $1.48 billion, a P/E ratio of 42.41 and a beta of 0.75.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Wednesday, March 4th. The technology company reported $1.72 earnings per share 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 company had revenue of $173.11 million during the quarter, compared to the consensus estimate of $177.00 million.

Preformed Line Products Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLPC. Wall Street Zen lowered shares of Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Freedom Capital upgraded 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 stock. According to MarketBeat.com, Preformed Line Products currently has a consensus rating of “Strong Buy” and an average target price of $275.00.

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.