Allspring Global Investments Holdings LLC Has $187,000 Stake in Preformed Line Products (NASDAQ:PLPC)

Allspring Global Investments Holdings LLC lessened its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 37.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,396 shares of the technology company’s stock after selling 821 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Preformed Line Products were worth $187,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System increased its stake in 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 in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Preformed Line Products during the 4th quarter worth approximately $34,000. SG Americas Securities LLC bought a new position in Preformed Line Products in the third quarter worth approximately $141,000. WINTON GROUP Ltd bought a new position in Preformed Line Products in the third quarter worth approximately $274,000. Finally, Alps Advisors Inc. acquired a new stake in Preformed Line Products in the third quarter valued at approximately $322,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Stock Up 0.9 %

Preformed Line Products stock opened at $124.71 on Friday. The firm has a market capitalization of $614.82 million, a price-to-earnings ratio of 9.84 and a beta of 0.74. The firm’s fifty day moving average price is $127.68 and its two-hundred day moving average price is $129.11. Preformed Line Products has a 1-year low of $104.96 and a 1-year high of $184.82. The company has a current ratio of 2.92, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Thursday, March 7th. The technology company reported $1.29 earnings per share for the quarter. The business had revenue of $145.60 million for the quarter. Preformed Line Products had a net margin of 9.46% and a return on equity of 15.89%.

Preformed Line Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Tuesday, April 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Monday, April 1st. Preformed Line Products’s payout ratio is currently 6.31%.

Analysts Set New Price Targets

Separately, StockNews.com cut Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

Preformed Line Products Company Profile

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.