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

NewEdge Advisors LLC purchased a new stake in Preformed Line Products Company (NASDAQ:PLPC) during the 1st 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ranger Investment Management L.P. acquired a new position in shares of Preformed Line Products in the 1st quarter valued at $5,069,000. HighTower Advisors LLC grew its position in shares of Preformed Line Products by 11.6% in the 4th quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock valued at $199,720,000 after buying an additional 100,113 shares during the last quarter. First Trust Advisors LP raised its stake in Preformed Line Products by 28.9% during the 1st quarter. First Trust Advisors LP now owns 21,144 shares of the technology company’s stock worth $5,725,000 after acquiring an additional 4,745 shares in the last quarter. UBS Group AG raised its stake in Preformed Line Products by 199.2% during the 4th quarter. UBS Group AG now owns 22,629 shares of the technology company’s stock worth $4,678,000 after acquiring an additional 15,067 shares in the last quarter. Finally, Round Rock Advisors LLC lifted its position in Preformed Line Products by 66.0% in the fourth quarter. Round Rock Advisors LLC now owns 7,805 shares of the technology company’s stock valued at $1,613,000 after acquiring an additional 3,102 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Stock Performance

Shares of PLPC opened at $423.60 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.07 billion, a PE ratio of 47.70 and a beta of 0.91. The company’s 50 day simple moving average is $361.63 and its 200-day simple moving average is $314.84. Preformed Line Products Company has a 12-month low of $148.04 and a 12-month high of $426.00.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $2.08. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%. The business had revenue of $212.68 million for the quarter, compared to analysts’ expectations of $193.00 million.

Preformed Line Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Wednesday, July 1st were paid a $0.21 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. Preformed Line Products’s payout ratio is currently 9.46%.

Wall Street Analysts Forecast Growth

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

About Preformed Line Products

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.