Preformed Line Products Company (NASDAQ:PLPC) Stock Holdings Increased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in Preformed Line Products Company (NASDAQ:PLPC) by 121.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,921 shares of the technology company’s stock after purchasing an additional 1,600 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Preformed Line Products worth $409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLPC. Wells Fargo & Company MN raised its holdings in shares of Preformed Line Products by 28.7% in the 4th quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock worth $180,000 after purchasing an additional 314 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Preformed Line Products by 30,720.0% in the 1st quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company’s stock worth $432,000 after purchasing an additional 3,072 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Preformed Line Products by 7.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,831 shares of the technology company’s stock worth $537,000 after purchasing an additional 276 shares in the last quarter. Nierenberg Investment Management Company Inc. bought a new stake in shares of Preformed Line Products in the 4th quarter worth approximately $582,000. Finally, Pullen Investment Management LLC bought a new stake in shares of Preformed Line Products in the 4th quarter worth approximately $605,000. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Stock Down 0.4%

PLPC stock opened at $141.24 on Friday. Preformed Line Products Company has a 52-week low of $109.01 and a 52-week high of $171.94. The company’s 50 day simple moving average is $152.05 and its 200-day simple moving average is $141.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.81. The firm has a market capitalization of $697.73 million, a P/E ratio of 17.90 and a beta of 0.77.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 6.49% and a return on equity of 9.16%. The business had revenue of $148.54 million for the quarter.

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, July 20th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. Preformed Line Products’s dividend payout ratio is currently 10.14%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th.

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.