Ingalls & Snyder LLC Invests $521,000 in Preformed Line Products (NASDAQ:PLPC)

Ingalls & Snyder LLC purchased a new position in Preformed Line Products (NASDAQ:PLPC) in the third quarter, HoldingsChannel reports. The fund purchased 4,070 shares of the technology company’s stock, valued at approximately $521,000.

Several other institutional investors and hedge funds have also bought and sold shares of PLPC. Rhumbline Advisers raised its position in shares of Preformed Line Products by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 3,861 shares of the technology company’s stock worth $481,000 after acquiring an additional 86 shares in the last quarter. Private Advisor Group LLC lifted its position in Preformed Line Products by 4.8% during the third quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock valued at $353,000 after buying an additional 125 shares during the period. Koss Olinger Consulting LLC lifted its position in Preformed Line Products by 3.8% during the third quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock valued at $477,000 after buying an additional 138 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Preformed Line Products by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock valued at $8,294,000 after buying an additional 200 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Preformed Line Products in the 2nd quarter worth about $27,000. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Stock Up 0.6 %

PLPC stock opened at $137.25 on Wednesday. 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 business has a 50 day moving average of $129.57 and a 200 day moving average of $125.77. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $145.28. The firm has a market cap of $672.53 million, a PE ratio of 20.61 and a beta of 0.60.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share (EPS) for the quarter. The firm had revenue of $146.97 million during 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 announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. Preformed Line Products’s dividend payout ratio is presently 12.01%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note 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.