American Century Companies Inc. Has $10.11 Million Position in Preformed Line Products Company $PLPC

American Century Companies Inc. grew its position in Preformed Line Products Company (NASDAQ:PLPC) by 47.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,137 shares of the technology company’s stock after buying an additional 23,080 shares during the quarter. American Century Companies Inc. owned 1.46% of Preformed Line Products worth $10,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLPC. Wells Fargo & Company MN raised its position 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 valued at $180,000 after buying an additional 314 shares in the last quarter. Barclays PLC increased its position in Preformed Line Products by 8.5% during the 4th quarter. Barclays PLC now owns 5,413 shares of the technology company’s stock worth $692,000 after purchasing an additional 424 shares in the last quarter. First Trust Advisors LP increased its position in Preformed Line Products by 12.4% during the 4th quarter. First Trust Advisors LP now owns 22,481 shares of the technology company’s stock worth $2,873,000 after purchasing an additional 2,480 shares in the last quarter. Northern Trust Corp increased its position in Preformed Line Products by 1.2% during the 4th quarter. Northern Trust Corp now owns 35,732 shares of the technology company’s stock worth $4,566,000 after purchasing an additional 429 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Preformed Line Products by 13.9% during the 4th quarter. Janus Henderson Group PLC now owns 8,983 shares of the technology company’s stock worth $1,149,000 after purchasing an additional 1,098 shares in the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Preformed Line Products Price Performance

PLPC stock opened at $194.45 on Wednesday. The company has a 50 day simple moving average of $161.88 and a 200 day simple moving average of $146.92. The stock has a market cap of $956.69 million, a price-to-earnings ratio of 22.72 and a beta of 0.79. Preformed Line Products Company has a 1 year low of $109.01 and a 1 year high of $195.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.83.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.56 earnings per share for the quarter. Preformed Line Products had a net margin of 6.70% and a return on equity of 9.69%. The firm had revenue of $169.60 million for the quarter.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, July 1st. Preformed Line Products’s payout ratio is presently 9.35%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research 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.