KLP Kapitalforvaltning AS Sells 3,100 Shares of Preformed Line Products Company (NASDAQ:PLPC)

KLP Kapitalforvaltning AS cut its position in Preformed Line Products Company (NASDAQ:PLPC) by 56.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,400 shares of the technology company’s stock after selling 3,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Preformed Line Products were worth $336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Preformed Line Products by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 64,704 shares of the technology company’s stock valued at $8,271,000 after acquiring an additional 381 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Preformed Line Products by 2.6% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 59,803 shares of the technology company’s stock valued at $7,642,000 after acquiring an additional 1,542 shares in the last quarter. American Century Companies Inc. boosted its position in Preformed Line Products by 160.8% in the fourth quarter. American Century Companies Inc. now owns 49,057 shares of the technology company’s stock valued at $6,269,000 after buying an additional 30,245 shares in the last quarter. Invesco Ltd. boosted its position in Preformed Line Products by 0.4% in the fourth quarter. Invesco Ltd. now owns 41,204 shares of the technology company’s stock valued at $5,265,000 after buying an additional 172 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Preformed Line Products by 1.2% in the fourth quarter. Northern Trust Corp now owns 35,732 shares of the technology company’s stock valued at $4,566,000 after buying an additional 429 shares in the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th.

Preformed Line Products Price Performance

NASDAQ:PLPC opened at $140.59 on Thursday. The firm has a market cap of $694.51 million, a PE ratio of 17.82 and a beta of 0.77. Preformed Line Products Company has a 12 month low of $109.01 and a 12 month high of $171.94. The company has a quick ratio of 1.81, a current ratio of 3.08 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $152.31 and its two-hundred day moving average price is $142.32.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Wednesday, July 30th. The technology company reported $2.56 earnings per share for the quarter. Preformed Line Products had a net margin of 6.49% and a return on equity of 9.16%.

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, July 1st. Preformed Line Products’s dividend payout ratio is presently 10.14%.

Preformed Line Products Company 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.