BNP Paribas Arbitrage SA Lowers Stock Position in Preformed Line Products (NASDAQ:PLPC)

BNP Paribas Arbitrage SA reduced its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 62.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 584 shares of the technology company’s stock after selling 982 shares during the period. BNP Paribas Arbitrage SA’s holdings in Preformed Line Products were worth $43,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLPC. BlackRock Inc. lifted its position in shares of Preformed Line Products by 4.2% during the 1st quarter. BlackRock Inc. now owns 197,257 shares of the technology company’s stock valued at $13,561,000 after buying an additional 8,024 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Preformed Line Products by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 9,444 shares of the technology company’s stock valued at $650,000 after buying an additional 273 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Preformed Line Products by 7.0% during the 1st quarter. Geode Capital Management LLC now owns 63,991 shares of the technology company’s stock valued at $4,399,000 after buying an additional 4,177 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Preformed Line Products by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 32,901 shares of the technology company’s stock valued at $2,262,000 after buying an additional 921 shares in the last quarter. Finally, Walthausen & Co. LLC lifted its position in shares of Preformed Line Products by 146.1% during the 1st quarter. Walthausen & Co. LLC now owns 34,360 shares of the technology company’s stock valued at $2,362,000 after buying an additional 20,400 shares in the last quarter. 46.97% of the stock is currently owned by hedge funds and other institutional investors.

PLPC stock opened at $66.95 on Thursday. The business’s 50-day moving average price is $68.83 and its 200-day moving average price is $70.88. The company has a quick ratio of 1.43, a current ratio of 2.41 and a debt-to-equity ratio of 0.14. Preformed Line Products has a twelve month low of $47.25 and a twelve month high of $82.46. The stock has a market cap of $328.52 million, a P/E ratio of 10.51 and a beta of 0.89.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Thursday, July 29th. The technology company reported $1.80 EPS for the quarter. Preformed Line Products had a return on equity of 10.87% and a net margin of 6.38%. The company had revenue of $133.04 million for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 20th. Investors of record on Friday, October 1st will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%.

Preformed Line Products Company Profile

Preformed Line Products Co engages in the provision of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators, information, and other similar industries. It operates through the following geographical segments: PLP-USA, Americas, EMEA, and Asia-Pacific.

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

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