Preformed Line Products Company $PLPC Shares Sold by Denali Advisors LLC

Denali Advisors LLC lessened its holdings in Preformed Line Products Company (NASDAQ:PLPC) by 72.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,724 shares of the technology company’s stock after selling 4,441 shares during the period. Denali Advisors LLC’s holdings in Preformed Line Products were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. increased its position in shares of Preformed Line Products by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock worth $13,068,000 after purchasing an additional 9,637 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Preformed Line Products by 9.3% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,818 shares of the technology company’s stock valued at $12,596,000 after acquiring an additional 6,718 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Preformed Line Products by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 66,667 shares of the technology company’s stock valued at $10,656,000 after acquiring an additional 317 shares during the period. First Trust Advisors LP raised its stake in shares of Preformed Line Products by 7.4% in the 2nd quarter. First Trust Advisors LP now owns 24,412 shares of the technology company’s stock valued at $3,901,000 after acquiring an additional 1,689 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Preformed Line Products by 45.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 23,497 shares of the technology company’s stock worth $3,755,000 after acquiring an additional 7,332 shares during the last quarter. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Stock Performance

Shares of PLPC stock opened at $273.24 on Wednesday. The firm has a 50 day moving average of $240.12 and a two-hundred day moving average of $214.30. The stock has a market capitalization of $1.34 billion, a PE ratio of 36.19 and a beta of 0.77. The company has a quick ratio of 1.84, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. Preformed Line Products Company has a 52 week low of $118.99 and a 52 week high of $287.96.

Preformed Line Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were issued a dividend of $0.21 per share. This is a positive change from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, January 5th. This represents a $0.84 annualized dividend and a yield of 0.3%. Preformed Line Products’s dividend payout ratio (DPR) is currently 11.13%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

Preformed Line Products Profile

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.