BNP Paribas Arbitrage SA grew its stake in Preformed Line Products (NASDAQ:PLPC) by 550.0% during the first quarter, HoldingsChannel.com reports. The firm owned 650 shares of the technology company’s stock after buying an additional 550 shares during the period. BNP Paribas Arbitrage SA’s holdings in Preformed Line Products were worth $35,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Preformed Line Products by 79.0% during the 4th quarter. Bank of America Corp DE now owns 2,180 shares of the technology company’s stock worth $119,000 after buying an additional 962 shares during the period. Rhumbline Advisers raised its stake in Preformed Line Products by 45.0% during the 4th quarter. Rhumbline Advisers now owns 4,363 shares of the technology company’s stock worth $237,000 after buying an additional 1,355 shares during the period. First Trust Advisors LP raised its stake in Preformed Line Products by 18.2% during the 4th quarter. First Trust Advisors LP now owns 4,881 shares of the technology company’s stock worth $265,000 after buying an additional 750 shares during the period. Noked Capital LTD acquired a new stake in Preformed Line Products during the 4th quarter worth $385,000. Finally, Ramsey Quantitative Systems raised its stake in Preformed Line Products by 31.7% during the 4th quarter. Ramsey Quantitative Systems now owns 7,850 shares of the technology company’s stock worth $426,000 after buying an additional 1,888 shares during the period. 44.80% of the stock is currently owned by institutional investors.
Several analysts recently commented on the company. TheStreet downgraded Preformed Line Products from a “b-” rating to a “c+” rating in a research note on Thursday, June 6th. BidaskClub upgraded Preformed Line Products from a “sell” rating to a “hold” rating in a report on Monday, February 25th.
PLPC stock opened at $50.02 on Thursday. The stock has a market cap of $251.91 million, a price-to-earnings ratio of 11.14 and a beta of 1.37. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.11 and a quick ratio of 1.88. Preformed Line Products has a 1 year low of $45.12 and a 1 year high of $96.83.
Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Friday, May 3rd. The technology company reported $0.36 earnings per share (EPS) for the quarter. The firm had revenue of $97.15 million during the quarter. Preformed Line Products had a return on equity of 9.29% and a net margin of 5.45%.
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Preformed Line Products Company Profile
Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.
Read More: Why do analysts give a neutral rating?
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