Ranger Investment Management L.P. Takes $7.94 Million Position in Preformed Line Products Company $PLPC

Ranger Investment Management L.P. bought a new stake in Preformed Line Products Company (NASDAQ:PLPC) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,339 shares of the technology company’s stock, valued at approximately $7,940,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in Preformed Line Products by 2,562.5% in the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after buying an additional 205 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Preformed Line Products by 199.0% during the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after acquiring an additional 199 shares during the last quarter. Royal Bank of Canada raised its stake 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 acquiring an additional 143 shares during the period. State of Wyoming purchased a new stake in shares of Preformed Line Products in the 2nd quarter valued at approximately $63,000. Finally, Huntington National Bank lifted its holdings in shares of Preformed Line Products by 55.5% in the 4th quarter. Huntington National Bank now owns 311 shares of the technology company’s stock worth $64,000 after acquiring an additional 111 shares during the last quarter. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Stock Performance

NASDAQ PLPC opened at $429.30 on Monday. 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 firm has a market cap of $2.10 billion, a price-to-earnings ratio of 48.34 and a beta of 0.91. The firm has a 50 day simple moving average of $383.07 and a 200-day simple moving average of $333.96. Preformed Line Products Company has a one year low of $184.02 and a one year high of $504.69.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 5.82% and a return on equity of 10.64%.

Preformed Line Products Dividend Announcement

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

Insider Buying and Selling

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 33.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PLPC shares. Wall Street Zen raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings lowered Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Freedom Capital upgraded Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.