Hsbc Holdings PLC Makes New Investment in Preformed Line Products Company $PLPC

Hsbc Holdings PLC purchased a new stake in shares of Preformed Line Products Company (NASDAQ:PLPC) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,532 shares of the technology company’s stock, valued at approximately $417,000.

Several other large investors have also recently made changes to their positions in PLPC. HighTower Advisors LLC boosted its stake in shares of 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 purchasing an additional 100,113 shares in the last quarter. UBS Group AG grew its holdings in shares of Preformed Line Products by 199.2% during the 4th quarter. UBS Group AG now owns 22,629 shares of the technology company’s stock valued at $4,678,000 after purchasing an additional 15,067 shares during the last quarter. Round Rock Advisors LLC raised its position in Preformed Line Products by 66.0% in the 4th quarter. Round Rock Advisors LLC now owns 7,805 shares of the technology company’s stock worth $1,613,000 after purchasing an additional 3,102 shares during the period. Riverwater Partners LLC raised its position in Preformed Line Products by 73.0% in the 4th quarter. Riverwater Partners LLC now owns 5,544 shares of the technology company’s stock worth $1,146,000 after purchasing an additional 2,340 shares during the period. Finally, Congruence Capital LLC bought a new stake in Preformed Line Products in the fourth quarter worth $3,186,000. 41.19% of the stock is owned by hedge funds and other institutional investors.

Preformed Line Products Stock Down 3.1%

Shares of Preformed Line Products stock opened at $356.98 on Friday. 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 $145.55 and a 52-week high of $414.35. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 40.20 and a beta of 0.88. The company’s 50 day moving average price is $360.69 and its 200-day moving average price is $312.24.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $2.08. The company had revenue of $212.68 million during 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 10.77%.

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Wednesday, July 1st were given a $0.21 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. Preformed Line Products’s payout ratio is presently 9.46%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Freedom Capital lowered shares of Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Preformed Line Products in a report on Friday, July 24th. Finally, Wall Street Zen raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $275.00.

About Preformed Line Products

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.