UBS Group AG Has $4.68 Million Stock Holdings in Preformed Line Products Company $PLPC

UBS Group AG boosted its position in shares of Preformed Line Products Company (NASDAQ:PLPC) by 199.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,629 shares of the technology company’s stock after purchasing an additional 15,067 shares during the quarter. UBS Group AG’s holdings in Preformed Line Products were worth $4,678,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PLPC. Montag A & Associates Inc. acquired a new position in Preformed Line Products in the third quarter valued at about $29,000. Huntington National Bank grew its stake in Preformed Line Products by 181.7% in the third quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after acquiring an additional 129 shares during the period. Russell Investments Group Ltd. grew its stake in Preformed Line Products by 2,562.5% in the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after acquiring an additional 205 shares during the period. Tower Research Capital LLC TRC grew its stake in Preformed Line Products by 199.0% in the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after acquiring an additional 199 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Preformed Line Products in the third quarter valued at about $51,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PLPC has been the subject of a number of research analyst reports. Wall Street Zen cut Preformed Line Products from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Loop Capital set a $275.00 target price on Preformed Line Products in a research note on Monday, March 9th. Weiss Ratings cut Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, Freedom Capital cut Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $275.00.

Preformed Line Products Stock Performance

PLPC opened at $357.82 on Friday. The business’s 50-day moving average price is $311.70 and its two-hundred day moving average price is $260.45. Preformed Line Products Company has a 1 year low of $133.27 and a 1 year high of $371.80. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 51.48 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.01 and a quick ratio of 1.78.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.32. Preformed Line Products had a return on equity of 8.96% and a net margin of 4.92%.The firm had revenue of $176.28 million for the quarter, compared to the consensus estimate of $178.00 million.

Preformed Line Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Wednesday, April 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. Preformed Line Products’s dividend payout ratio (DPR) is currently 12.09%.

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.