Man Group plc Takes Position in Preformed Line Products Company $PLPC

Man Group plc bought a new position in shares of Preformed Line Products Company (NASDAQ:PLPC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,497 shares of the technology company’s stock, valued at approximately $1,436,000. Man Group plc owned approximately 0.07% of Preformed Line Products as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PLPC. Russell Investments Group Ltd. lifted its stake in Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after buying an additional 205 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Preformed Line Products by 199.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after buying an additional 199 shares in the last quarter. Royal Bank of Canada increased its stake in Preformed Line Products by 132.4% during the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock worth $52,000 after buying an additional 143 shares in the last quarter. State of Wyoming acquired a new position in shares of Preformed Line Products during the second quarter valued at approximately $63,000. Finally, Huntington National Bank raised its holdings in shares of Preformed Line Products by 55.5% during the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock valued at $64,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Insider Transactions at Preformed Line Products

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total value of $914,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 33.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLPC. Weiss Ratings lowered Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Freedom Capital raised Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Preformed Line Products currently has an average rating of “Buy” and an average target price of $275.00.

Preformed Line Products Stock Up 0.5%

PLPC stock opened at $390.41 on Thursday. The company has a current ratio of 2.99, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $386.69 and a two-hundred day moving average of $341.44. Preformed Line Products Company has a 12 month low of $184.02 and a 12 month high of $504.69. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 43.97 and a beta of 0.93.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $193.00 million.

Preformed Line Products Announces Dividend

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

Preformed Line Products Profile

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.