Insider Selling: Preformed Line Products (NASDAQ:PLPC) President Sells $337,560.00 in Stock

Preformed Line Products (NASDAQ:PLPC) President Jon Ryan Ruhlman sold 2,000 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $168.78, for a total value of $337,560.00. Following the transaction, the president now owns 5,340 shares in the company, valued at approximately $901,285.20. This represents a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Preformed Line Products Stock Performance

Shares of PLPC stock opened at $125.55 on Thursday. The firm has a market cap of $614.94 million, a price-to-earnings ratio of 18.85 and a beta of 0.63. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $145.28. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $132.22 and its 200 day moving average is $125.61.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share (EPS) for the quarter. The business had revenue of $146.97 million for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s payout ratio is 12.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in Preformed Line Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock valued at $8,294,000 after acquiring an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Preformed Line Products by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 32,574 shares of the technology company’s stock valued at $4,172,000 after purchasing an additional 471 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Preformed Line Products by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock worth $3,411,000 after purchasing an additional 984 shares in the last quarter. FMR LLC grew its stake in Preformed Line Products by 27.7% during the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock worth $3,214,000 after buying an additional 5,442 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Preformed Line Products by 10.4% during the 2nd quarter. AQR Capital Management LLC now owns 17,936 shares of the technology company’s stock worth $2,234,000 after buying an additional 1,687 shares during the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

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.