Easterly Investment Partners LLC Makes New Investment in Preformed Line Products (NASDAQ:PLPC)

Easterly Investment Partners LLC bought a new stake in shares of Preformed Line Products (NASDAQ:PLPC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,317 shares of the technology company’s stock, valued at approximately $1,658,000. Easterly Investment Partners LLC owned approximately 0.27% of Preformed Line Products at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CM Management LLC grew its stake in shares of Preformed Line Products by 48.6% in the 1st quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock worth $3,345,000 after buying an additional 8,500 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Preformed Line Products by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock valued at $49,222,000 after acquiring an additional 5,913 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Preformed Line Products by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock worth $9,398,000 after purchasing an additional 3,489 shares during the last quarter. Jump Financial LLC boosted its stake in Preformed Line Products by 92.0% in the 4th quarter. Jump Financial LLC now owns 4,224 shares of the technology company’s stock worth $565,000 after purchasing an additional 2,024 shares in the last quarter. Finally, Ausbil Investment Management Ltd purchased a new stake in Preformed Line Products during the 1st quarter valued at about $195,000. 41.19% of the stock is owned by hedge funds and other institutional investors.

Preformed Line Products Stock Down 0.3 %

PLPC stock traded down $0.31 during midday trading on Monday, hitting $123.08. The company’s stock had a trading volume of 1,098 shares, compared to its average volume of 16,426. The company has a market cap of $605.31 million, a PE ratio of 11.93 and a beta of 0.64. The firm’s 50-day moving average is $123.30 and its 200-day moving average is $126.80. Preformed Line Products has a 12 month low of $104.96 and a 12 month high of $181.00. The company has a current ratio of 2.93, a quick ratio of 1.57 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.89 EPS for the quarter. Preformed Line Products had a return on equity of 9.83% and a net margin of 6.90%. The company had revenue of $138.72 million for the quarter.

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.65%. Preformed Line Products’s dividend payout ratio is presently 7.74%.

Wall Street Analyst Weigh In

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

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.