The Manufacturers Life Insurance Company Makes New $292,000 Investment in Preformed Line Products Company $PLPC

The Manufacturers Life Insurance Company purchased a new stake in Preformed Line Products Company (NASDAQ:PLPC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,078 shares of the technology company’s stock, valued at approximately $292,000.

A number of other institutional investors also recently modified their holdings of PLPC. Quantinno Capital Management LP boosted its position in shares of Preformed Line Products by 65.7% during the first quarter. Quantinno Capital Management LP now owns 7,748 shares of the technology company’s stock worth $2,098,000 after buying an additional 3,072 shares during the period. First Trust Advisors LP raised its position in Preformed Line Products by 28.9% in the 1st quarter. First Trust Advisors LP now owns 21,144 shares of the technology company’s stock valued at $5,725,000 after buying an additional 4,745 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Preformed Line Products by 9.9% in the 1st quarter. Principal Financial Group Inc. now owns 11,548 shares of the technology company’s stock valued at $3,127,000 after acquiring an additional 1,038 shares in the last quarter. Fifth Third Bancorp bought a new stake in Preformed Line Products in the 1st quarter valued at approximately $85,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Preformed Line Products in the 1st quarter valued at approximately $255,000. 41.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and an average target price of $275.00.

Preformed Line Products Stock Performance

Shares of NASDAQ PLPC opened at $464.63 on Monday. The stock has a 50 day moving average price of $375.91 and a 200 day moving average price of $327.28. Preformed Line Products Company has a 52 week low of $172.10 and a 52 week high of $504.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 2.99. The stock has a market capitalization of $2.27 billion, a PE ratio of 52.32 and a beta of 0.91.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $2.08. The firm had revenue of $212.68 million for 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 10.64%.

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. Preformed Line Products’s payout ratio is currently 9.46%.

Insider Activity

In other news, Director Glen E. Corlett sold 2,000 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 33.00% of the company’s stock.

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.