Preformed Line Products Company $PLPC Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. cut its stake in shares of Preformed Line Products Company (NASDAQ:PLPC) by 17.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,400 shares of the technology company’s stock after selling 500 shares during the period. Baird Financial Group Inc.’s holdings in Preformed Line Products were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of Preformed Line Products by 47.0% during the first quarter. American Century Companies Inc. now owns 72,137 shares of the technology company’s stock valued at $10,106,000 after acquiring an additional 23,080 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Preformed Line Products during the first quarter valued at about $15,339,000. Invesco Ltd. increased its position in shares of Preformed Line Products by 19.0% during the first quarter. Invesco Ltd. now owns 49,033 shares of the technology company’s stock valued at $6,869,000 after acquiring an additional 7,829 shares during the last quarter. CM Management LLC boosted its stake in shares of Preformed Line Products by 3.7% in the first quarter. CM Management LLC now owns 28,000 shares of the technology company’s stock valued at $3,923,000 after purchasing an additional 1,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Preformed Line Products by 172.8% in the first quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company’s stock valued at $25,945,000 after purchasing an additional 117,323 shares during the period. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Preformed Line Products Trading Up 2.6%

NASDAQ PLPC opened at $198.62 on Friday. The firm has a 50 day simple moving average of $169.96 and a 200-day simple moving average of $151.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.83 and a current ratio of 3.08. Preformed Line Products Company has a one year low of $114.40 and a one year high of $199.27. The firm has a market cap of $977.21 million, a price-to-earnings ratio of 23.20 and a beta of 0.79.

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

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, July 20th. Stockholders of record on Tuesday, July 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.4%. Preformed Line Products’s dividend payout ratio (DPR) is presently 9.35%.

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.