Preformed Line Products Company (NASDAQ:PLPC) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of Preformed Line Products Company (NASDAQ:PLPC) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,325 shares of the technology company’s stock after purchasing an additional 293 shares during the period. Bank of New York Mellon Corp owned 0.41% of Preformed Line Products worth $2,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLPC. American Century Companies Inc. increased its position in Preformed Line Products by 160.8% in the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company’s stock worth $6,269,000 after buying an additional 30,245 shares during the period. KLP Kapitalforvaltning AS bought a new position in Preformed Line Products in the 4th quarter worth approximately $703,000. JPMorgan Chase & Co. increased its position in Preformed Line Products by 50.7% in the 4th quarter. JPMorgan Chase & Co. now owns 12,238 shares of the technology company’s stock worth $1,564,000 after buying an additional 4,119 shares during the period. Geode Capital Management LLC increased its position in Preformed Line Products by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 64,704 shares of the technology company’s stock worth $8,271,000 after buying an additional 381 shares during the period. Finally, Wells Fargo & Company MN increased its position in 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 buying an additional 314 shares during the period. 41.19% of the stock is owned by hedge funds and other institutional investors.

Preformed Line Products Stock Performance

Shares of NASDAQ:PLPC opened at $141.24 on Monday. 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 business’s fifty day moving average price is $152.05 and its two-hundred day moving average price is $142.19. Preformed Line Products Company has a fifty-two week low of $109.01 and a fifty-two week high of $171.94. The stock has a market capitalization of $697.73 million, a price-to-earnings ratio of 17.90 and a beta of 0.77.

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

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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, July 1st. Preformed Line Products’s dividend payout ratio (DPR) is presently 10.14%.

Analyst Ratings Changes

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

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.