First Trust Advisors LP Grows Stock Position in Preformed Line Products Company $PLPC

First Trust Advisors LP increased its stake in Preformed Line Products Company (NASDAQ:PLPC) by 28.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,144 shares of the technology company’s stock after buying an additional 4,745 shares during the quarter. First Trust Advisors LP’s holdings in Preformed Line Products were worth $5,725,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Preformed Line Products by 2,562.5% during the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after acquiring an additional 205 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Preformed Line Products by 132.4% in the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock worth $52,000 after acquiring an additional 143 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Preformed Line Products by 199.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after acquiring an additional 199 shares during the last quarter. Huntington National Bank boosted its stake in shares of Preformed Line Products by 55.5% during the 4th quarter. Huntington National Bank now owns 311 shares of the technology company’s stock worth $64,000 after purchasing an additional 111 shares during the period. Finally, Fifth Third Bancorp purchased a new position in shares of Preformed Line Products during the 1st quarter worth about $85,000. 41.19% of the stock is owned by hedge funds and other institutional investors.

Preformed Line Products Trading Up 0.3%

PLPC stock opened at $358.15 on Tuesday. The company has a market capitalization of $1.75 billion, a PE ratio of 40.33 and a beta of 0.91. Preformed Line Products Company has a 12 month low of $148.04 and a 12 month high of $414.35. The firm’s 50-day moving average is $360.69 and its 200 day moving average is $313.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.01 and a quick ratio of 1.78.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $2.08. The company had revenue of $212.68 million during the quarter, compared to analyst estimates of $193.00 million. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.77%.

Preformed Line Products Announces Dividend

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

Wall Street Analyst Weigh In

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

Preformed Line Products Company 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.