Preformed Line Products (NASDAQ:PLPC) Stock Position Decreased by LSV Asset Management

LSV Asset Management decreased its position in Preformed Line Products (NASDAQ:PLPC) by 3.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 52,213 shares of the technology company’s stock after selling 1,900 shares during the quarter. LSV Asset Management’s holdings in Preformed Line Products were worth $6,989,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PLPC. Russell Investments Group Ltd. lifted its stake in Preformed Line Products by 13.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,749 shares of the technology company’s stock valued at $502,000 after acquiring an additional 455 shares during the last quarter. Strs Ohio raised its holdings in Preformed Line Products by 23.5% during the fourth quarter. Strs Ohio now owns 4,200 shares of the technology company’s stock valued at $562,000 after buying an additional 800 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its position in shares of Preformed Line Products by 9.7% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 7,743 shares of the technology company’s stock worth $1,036,000 after buying an additional 685 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Preformed Line Products in the fourth quarter worth about $34,000. Finally, New York State Teachers Retirement System boosted its stake in shares of Preformed Line Products by 123.0% during the 4th quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock worth $30,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 8th.

Preformed Line Products Trading Up 1.6 %

NASDAQ:PLPC opened at $129.00 on Thursday. The firm has a market cap of $634.42 million, a price-to-earnings ratio of 12.48 and a beta of 0.75. Preformed Line Products has a 12 month low of $104.96 and a 12 month high of $184.82. The company has a quick ratio of 1.58, a current ratio of 2.92 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $126.56 and its 200-day moving average is $128.00.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings results on Thursday, March 7th. The technology company reported $1.29 earnings per share (EPS) for the quarter. The company had revenue of $145.60 million for the quarter. Preformed Line Products had a return on equity of 12.73% and a net margin of 8.20%.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Tuesday, April 2nd were given a $0.20 dividend. The ex-dividend date was Monday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. Preformed Line Products’s dividend payout ratio is 7.74%.

About Preformed Line Products

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.