NewEdge Advisors LLC Makes New $338,000 Investment in Preformed Line Products Company $PLPC

NewEdge Advisors LLC acquired a new stake in Preformed Line Products Company (NASDAQ:PLPC) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,250 shares of the technology company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Quantinno Capital Management LP grew its position in Preformed Line Products by 65.7% during the first quarter. Quantinno Capital Management LP now owns 7,748 shares of the technology company’s stock worth $2,098,000 after buying an additional 3,072 shares in the last quarter. Ranger Investment Management L.P. bought a new position in Preformed Line Products during the 1st quarter worth $5,069,000. First Trust Advisors LP raised its holdings in Preformed Line Products by 28.9% in the 1st quarter. First Trust Advisors LP now owns 21,144 shares of the technology company’s stock valued at $5,725,000 after acquiring an additional 4,745 shares in the last quarter. HighTower Advisors LLC raised its holdings in 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 acquiring an additional 100,113 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Preformed Line Products by 199.2% during the 4th quarter. UBS Group AG now owns 22,629 shares of the technology company’s stock valued at $4,678,000 after acquiring an additional 15,067 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

Insider Transactions at Preformed Line Products

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of Preformed Line Products stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total value of $914,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 33.00% of the stock is currently owned by corporate insiders.

Preformed Line Products Stock Performance

Shares of NASDAQ:PLPC opened at $429.30 on Monday. The company’s 50 day simple moving average is $383.07 and its 200 day simple moving average is $333.96. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 48.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.88. Preformed Line Products Company has a 1 year low of $184.02 and a 1 year high of $504.69.

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

Preformed Line Products Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLPC. Wall Street Zen raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Freedom Capital raised Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings cut shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “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.