Royal Bank of Canada Has $544,000 Stock Position in Preformed Line Products Company $PLPC

Royal Bank of Canada grew its holdings in shares of Preformed Line Products Company (NASDAQ:PLPC) by 700.8% during the first quarter, Holdings Channel reports. The firm owned 2,010 shares of the technology company’s stock after purchasing an additional 1,759 shares during the period. Royal Bank of Canada’s holdings in Preformed Line Products were worth $544,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PLPC. Russell Investments Group Ltd. increased its position in Preformed Line Products by 22.1% during the fourth quarter. Russell Investments Group Ltd. now owns 260 shares of the technology company’s stock worth $54,000 after buying an additional 47 shares during the last quarter. Pullen Investment Management LLC lifted its position in shares of Preformed Line Products by 1.4% in the first quarter. Pullen Investment Management LLC now owns 6,891 shares of the technology company’s stock worth $1,866,000 after buying an additional 92 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Preformed Line Products by 6.6% during the 2nd quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock worth $257,000 after acquiring an additional 100 shares in the last quarter. Huntington National Bank boosted its stake in shares of Preformed Line Products by 55.5% during the 4th quarter. Huntington National Bank now owns 311 shares of the technology company’s stock worth $64,000 after acquiring an additional 111 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Preformed Line Products by 3.5% during the 2nd quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company’s stock valued at $611,000 after acquiring an additional 128 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Glen E. Corlett sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were 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 SEC, which is available at the SEC website. Insiders own 33.00% of the company’s stock.

Preformed Line Products Trading Down 5.2%

Preformed Line Products stock opened at $406.93 on Tuesday. Preformed Line Products Company has a 52 week low of $184.02 and a 52 week high of $504.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 2.99. The firm has a market capitalization of $1.99 billion, a PE ratio of 45.83 and a beta of 0.91. The business’s 50-day simple moving average is $383.60 and its 200-day simple moving average is $334.93.

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

Preformed Line Products Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Freedom Capital upgraded Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings lowered shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $275.00.

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.