First National Bank of Omaha Makes New Investment in Preformed Line Products Company $PLPC

First National Bank of Omaha bought a new stake in shares of Preformed Line Products Company (NASDAQ:PLPC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,280 shares of the technology company’s stock, valued at approximately $526,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLPC. HighTower Advisors LLC grew its stake in shares of Preformed Line Products by 11.6% in the fourth quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock worth $199,720,000 after acquiring an additional 100,113 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Preformed Line Products by 234.3% in the second quarter. Wasatch Advisors LP now owns 377,367 shares of the technology company’s stock worth $154,932,000 after acquiring an additional 264,478 shares during the period. BlackRock Inc. bought a new stake in shares of Preformed Line Products during the 2nd quarter valued at about $93,241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Preformed Line Products by 1.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,511 shares of the technology company’s stock valued at $42,665,000 after buying an additional 2,768 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Preformed Line Products by 4.8% in 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. 41.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLPC has been the topic of several analyst reports. Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Strong Buy” and an average price target of $275.00.

Insider Buying and Selling at Preformed Line Products

In related news, Director Glen E. Corlett sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 33.00% of the company’s stock.

Preformed Line Products Stock Performance

NASDAQ:PLPC opened at $434.74 on Thursday. The stock’s 50 day simple moving average is $381.09 and its two-hundred day simple moving average is $331.57. Preformed Line Products Company has a 1 year low of $177.18 and a 1 year high of $504.69. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 48.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.88.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $2.08. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%.The business had revenue of $212.68 million for the quarter, compared to the consensus estimate of $193.00 million.

Preformed Line Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, July 1st. Preformed Line Products’s dividend payout ratio is presently 9.46%.

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.