GSA Capital Partners LLP Buys Shares of 3,417 Preformed Line Products Company $PLPC

GSA Capital Partners LLP purchased a new position in Preformed Line Products Company (NASDAQ:PLPC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,417 shares of the technology company’s stock, valued at approximately $670,000. GSA Capital Partners LLP owned 0.07% of Preformed Line Products at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PLPC. Vanguard Group Inc. lifted its holdings in Preformed Line Products by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company’s stock worth $31,810,000 after purchasing an additional 7,426 shares in the last quarter. American Century Companies Inc. increased its position in shares of Preformed Line Products by 13.4% during the second quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock valued at $13,068,000 after buying an additional 9,637 shares during the period. 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 buying an additional 6,718 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Preformed Line Products by 0.5% in the second quarter. Geode Capital Management LLC now owns 66,667 shares of the technology company’s stock worth $10,656,000 after buying an additional 317 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Preformed Line Products by 7.4% in the second 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. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a research note on Monday, December 29th. Wall Street Zen cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Preformed Line Products Stock Performance

Preformed Line Products stock opened at $262.62 on Monday. Preformed Line Products Company has a fifty-two week low of $118.99 and a fifty-two week high of $287.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 3.09. The stock has a market cap of $1.29 billion, a P/E ratio of 34.78 and a beta of 0.77. The firm’s fifty day moving average price is $241.65 and its 200-day moving average price is $216.49.

Preformed Line Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were paid a $0.21 dividend. This is an increase from Preformed Line Products’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, January 5th. Preformed Line Products’s payout ratio is currently 11.13%.

About Preformed Line Products

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.