Northern Trust Corp Has $4.57 Million Stock Holdings in Preformed Line Products (NASDAQ:PLPC)

Northern Trust Corp boosted its position in Preformed Line Products (NASDAQ:PLPC) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,732 shares of the technology company’s stock after acquiring an additional 429 shares during the period. Northern Trust Corp owned 0.73% of Preformed Line Products worth $4,566,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Preformed Line Products by 93.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock worth $1,040,000 after purchasing an additional 3,919 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Preformed Line Products by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock worth $135,000 after buying an additional 122 shares during the period. Ausbil Investment Management Ltd raised its stake in shares of Preformed Line Products by 222.8% during the fourth quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company’s stock worth $701,000 after buying an additional 3,752 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Preformed Line Products in the fourth quarter valued at approximately $771,000. Finally, Cardinal Capital Management lifted its holdings in Preformed Line Products by 2.3% in the fourth quarter. Cardinal Capital Management now owns 10,491 shares of the technology company’s stock valued at $1,341,000 after buying an additional 239 shares during the period. 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 report on Tuesday, May 13th.

Preformed Line Products Stock Down 1.8%

NASDAQ:PLPC opened at $135.34 on Thursday. Preformed Line Products has a 12-month low of $109.01 and a 12-month high of $154.90. 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 firm has a market capitalization of $668.58 million, a P/E ratio of 20.32 and a beta of 0.75. The stock’s fifty day simple moving average is $139.41 and its 200-day simple moving average is $135.40.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The firm had revenue of $148.54 million for the quarter.

Preformed Line Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Tuesday, April 1st were paid a $0.20 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. Preformed Line Products’s dividend payout ratio (DPR) is presently 10.14%.

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.