Ranger Investment Management L.P. Purchases New Holdings in Preformed Line Products Company $PLPC

Ranger Investment Management L.P. acquired a new position in Preformed Line Products Company (NASDAQ:PLPC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 18,722 shares of the technology company’s stock, valued at approximately $5,069,000.

Several other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC boosted its position in Preformed Line Products by 11.6% in the 4th quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock valued at $199,720,000 after buying an additional 100,113 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Preformed Line Products by 1.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,511 shares of the technology company’s stock worth $42,665,000 after acquiring an additional 2,768 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Preformed Line Products by 4.8% during the third quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company’s stock worth $31,810,000 after acquiring an additional 7,426 shares during the last quarter. Wasatch Advisors LP acquired a new position in shares of Preformed Line Products during the first quarter valued at $30,565,000. Finally, Invesco Ltd. lifted its stake in shares of Preformed Line Products by 25.7% during the fourth quarter. Invesco Ltd. now owns 79,299 shares of the technology company’s stock valued at $16,392,000 after acquiring an additional 16,223 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Price Performance

PLPC opened at $297.11 on Wednesday. The company has a fifty day moving average price of $361.23 and a two-hundred day moving average price of $310.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 3.01. Preformed Line Products Company has a 52 week low of $139.53 and a 52 week high of $414.35. The firm has a market capitalization of $1.45 billion, a PE ratio of 42.75 and a beta of 0.88.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.32. Preformed Line Products had a return on equity of 8.96% and a net margin of 4.92%.The company had revenue of $176.28 million for the quarter, compared to the consensus estimate of $178.00 million.

Preformed Line Products Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Preformed Line Products’s payout ratio is 12.09%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings lowered Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Preformed Line Products from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Freedom Capital lowered shares of Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Preformed Line Products has an average rating of “Hold” and a consensus price target of $275.00.

Preformed Line Products 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.