R Squared Ltd Buys New Shares in Preformed Line Products Company $PLPC

R Squared Ltd bought a new stake in Preformed Line Products Company (NASDAQ:PLPC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,859 shares of the technology company’s stock, valued at approximately $297,000.

Several other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Preformed Line Products by 15,654.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,571 shares of the technology company’s stock valued at $30,480,000 after acquiring an additional 216,190 shares during the period. Vanguard Group Inc. increased its position in shares of Preformed Line Products by 172.8% in the 1st quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company’s stock valued at $25,945,000 after acquiring an additional 117,323 shares during the period. Nuveen LLC acquired a new position in shares of Preformed Line Products in the 1st quarter valued at $15,339,000. American Century Companies Inc. grew its position in Preformed Line Products by 47.0% during the 1st quarter. American Century Companies Inc. now owns 72,137 shares of the technology company’s stock worth $10,106,000 after purchasing an additional 23,080 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Preformed Line Products by 19.0% during the 1st quarter. Invesco Ltd. now owns 49,033 shares of the technology company’s stock valued at $6,869,000 after buying an additional 7,829 shares during the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Stock Performance

NASDAQ PLPC opened at $237.88 on Friday. The stock has a 50-day simple moving average of $201.78 and a two-hundred day simple moving average of $167.12. The firm has a market capitalization of $1.17 billion, a P/E ratio of 27.79 and a beta of 0.75. Preformed Line Products Company has a fifty-two week low of $118.99 and a fifty-two week high of $242.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.83 and a current ratio of 3.08.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.56 EPS for the quarter. Preformed Line Products had a return on equity of 9.69% and a net margin of 6.70%.The firm had revenue of $169.60 million for the quarter.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Wednesday, October 1st were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Preformed Line Products’s dividend payout ratio (DPR) is 9.35%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

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.