Preformed Line Products (NASDAQ:PLPC) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management raised its position in shares of Preformed Line Products (NASDAQ:PLPC) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,255 shares of the technology company’s stock after buying an additional 1,097 shares during the quarter. Cardinal Capital Management’s holdings in Preformed Line Products were worth $1,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System raised its position in shares of Preformed Line Products by 123.0% during the 4th quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock worth $30,000 after purchasing an additional 123 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Preformed Line Products during the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC raised its position in shares of Preformed Line Products by 243.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock worth $38,000 after purchasing an additional 200 shares during the period. Mather Group LLC. acquired a new stake in shares of Preformed Line Products during the 2nd quarter worth approximately $64,000. Finally, Quest Partners LLC acquired a new stake in shares of Preformed Line Products during the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.

Preformed Line Products Stock Performance

PLPC stock traded down $3.41 on Friday, reaching $115.70. The company’s stock had a trading volume of 23,203 shares, compared to its average volume of 21,919. Preformed Line Products has a 52 week low of $104.96 and a 52 week high of $181.00. The company has a market capitalization of $568.09 million, a P/E ratio of 11.19 and a beta of 0.64. The firm has a fifty day moving average of $125.91 and a two-hundred day moving average of $127.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.93 and a quick ratio of 1.57.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, July 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, July 1st. Preformed Line Products’s dividend payout ratio (DPR) is 7.74%.

Preformed Line Products Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.