Ausbil Investment Management Ltd Purchases Shares of 1,544 Preformed Line Products (NASDAQ:PLPC)

Ausbil Investment Management Ltd purchased a new stake in Preformed Line Products (NASDAQ:PLPC) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,544 shares of the technology company’s stock, valued at approximately $195,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swiss National Bank raised its stake in Preformed Line Products by 1.9% in the third quarter. Swiss National Bank now owns 5,453 shares of the technology company’s stock valued at $887,000 after buying an additional 100 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Preformed Line Products by 123.0% in the fourth quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock valued at $30,000 after purchasing an additional 123 shares during the period. FMR LLC increased its holdings in shares of Preformed Line Products by 0.7% in the third quarter. FMR LLC now owns 20,906 shares of the technology company’s stock valued at $3,399,000 after purchasing an additional 155 shares during the period. SG Americas Securities LLC increased its holdings in shares of Preformed Line Products by 21.1% in the fourth quarter. SG Americas Securities LLC now owns 1,050 shares of the technology company’s stock valued at $141,000 after purchasing an additional 183 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Preformed Line Products by 243.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock valued at $38,000 after purchasing an additional 200 shares during the period. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th.

Preformed Line Products Stock Performance

Shares of PLPC stock traded up $0.91 during mid-day trading on Friday, reaching $124.21. The stock had a trading volume of 7,860 shares, compared to its average volume of 13,882. The business’s fifty day moving average is $128.64 and its 200-day moving average is $128.48. The company has a current ratio of 3.15, a quick ratio of 1.73 and a debt-to-equity ratio of 0.12. The firm has a market cap of $611.11 million, a price-to-earnings ratio of 12.01 and a beta of 0.70. Preformed Line Products has a 1-year low of $104.96 and a 1-year high of $184.82.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.94 EPS for the quarter. The firm had revenue of $140.90 million for the quarter. Preformed Line Products had a return on equity of 12.67% and a net margin of 8.20%.

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Monday, July 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.64%. The ex-dividend date is Monday, July 1st. Preformed Line Products’s dividend payout ratio (DPR) is 7.74%.

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.