Denali Advisors LLC Raises Position in Preformed Line Products Company $PLPC

Denali Advisors LLC lifted its holdings in shares of Preformed Line Products Company (NASDAQ:PLPC) by 7.4% in the second quarter, HoldingsChannel.com reports. The fund owned 6,165 shares of the technology company’s stock after acquiring an additional 426 shares during the period. Denali Advisors LLC’s holdings in Preformed Line Products were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SummerHaven Investment Management LLC increased its position in shares of Preformed Line Products by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 6,677 shares of the technology company’s stock valued at $1,067,000 after acquiring an additional 103 shares during the last quarter. Ausbil Investment Management Ltd increased its position in shares of Preformed Line Products by 1.6% during the second quarter. Ausbil Investment Management Ltd now owns 6,716 shares of the technology company’s stock valued at $1,073,000 after acquiring an additional 108 shares during the last quarter. Cardinal Capital Management increased its position in shares of Preformed Line Products by 2.5% during the second quarter. Cardinal Capital Management now owns 11,374 shares of the technology company’s stock valued at $1,818,000 after acquiring an additional 273 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Preformed Line Products by 7.8% during the first quarter. Janney Montgomery Scott LLC now owns 3,831 shares of the technology company’s stock valued at $537,000 after acquiring an additional 276 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Preformed Line Products by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 20,325 shares of the technology company’s stock valued at $2,847,000 after acquiring an additional 293 shares during the last quarter. 41.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Preformed Line Products presently has a consensus rating of “Buy”.

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $220.52 on Thursday. The stock has a fifty day simple moving average of $199.58 and a two-hundred day simple moving average of $165.44. Preformed Line Products Company has a 1-year low of $118.99 and a 1-year high of $242.49. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 25.76 and a beta of 0.75. The company has a current ratio of 3.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.06.

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

Preformed Line Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, October 1st. Preformed Line Products’s dividend payout ratio is 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.