Preformed Line Products (NASDAQ:PLPC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in shares of Preformed Line Products (NASDAQ:PLPC) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,323 shares of the technology company’s stock after selling 1,677 shares during the period. Geode Capital Management LLC owned approximately 1.31% of Preformed Line Products worth $8,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PLPC. Allspring Global Investments Holdings LLC purchased a new position in Preformed Line Products during the 2nd quarter valued at about $52,000. Truvestments Capital LLC acquired a new stake in shares of Preformed Line Products during the third quarter worth about $103,000. SG Americas Securities LLC purchased a new position in shares of Preformed Line Products in the third quarter valued at approximately $119,000. Quest Partners LLC acquired a new position in shares of Preformed Line Products in the second quarter valued at approximately $196,000. Finally, BNP Paribas Financial Markets increased its stake in Preformed Line Products by 13.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock worth $304,000 after buying an additional 274 shares during the period. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $128.43 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The company has a market cap of $629.05 million, a price-to-earnings ratio of 19.28 and a beta of 0.60. The stock’s 50-day moving average is $132.13 and its two-hundred day moving average is $125.72. Preformed Line Products has a 1-year low of $109.01 and a 1-year high of $145.28.

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

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.62%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is presently 12.01%.

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.