Preformed Line Products Company $PLPC Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP increased its holdings in shares of Preformed Line Products Company (NASDAQ:PLPC) by 65.7% in the 1st quarter, HoldingsChannel reports. The firm owned 7,748 shares of the technology company’s stock after acquiring an additional 3,072 shares during the quarter. Quantinno Capital Management LP’s holdings in Preformed Line Products were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLPC. Russell Investments Group Ltd. grew its position in Preformed Line Products by 2,562.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after purchasing an additional 205 shares during the period. 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 valued at $52,000 after buying an additional 143 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Preformed Line Products by 199.0% in the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after buying an additional 199 shares during the last quarter. Huntington National Bank boosted its stake in shares of Preformed Line Products by 55.5% in the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock worth $64,000 after buying an additional 111 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Preformed Line Products during the first quarter worth about $85,000. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Preformed Line Products

In related news, Director Glen E. Corlett sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total value of $914,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 33.00% of the company’s stock.

Analysts Set New Price Targets

PLPC has been the subject of several recent research reports. Weiss Ratings upgraded Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Freedom Capital upgraded Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, Preformed Line Products currently has a consensus rating of “Strong Buy” and a consensus price target of $275.00.

Preformed Line Products Stock Performance

NASDAQ PLPC opened at $462.63 on Tuesday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 52.10 and a beta of 0.91. The stock has a 50-day moving average of $368.79 and a 200 day moving average of $321.03. The company has a current ratio of 2.99, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. Preformed Line Products Company has a twelve month low of $158.97 and a twelve month high of $497.00.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, beating the consensus estimate of $2.41 by $2.08. The company had revenue of $212.68 million for the quarter, compared to analyst estimates of $193.00 million. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%.

Preformed Line Products Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.2%. Preformed Line Products’s dividend payout ratio (DPR) is currently 9.46%.

About Preformed Line Products

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.