Y Intercept Hong Kong Ltd Buys New Position in Preformed Line Products Company $PLPC

Y Intercept Hong Kong Ltd bought a new stake in shares of Preformed Line Products Company (NASDAQ:PLPC) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,948 shares of the technology company’s stock, valued at approximately $527,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. HighTower Advisors LLC boosted its holdings 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 valued at $199,720,000 after acquiring an additional 100,113 shares in the last quarter. Round Rock Advisors LLC raised its holdings in Preformed Line Products by 66.0% during the fourth quarter. Round Rock Advisors LLC now owns 7,805 shares of the technology company’s stock worth $1,613,000 after purchasing an additional 3,102 shares in the last quarter. UBS Group AG lifted its position in Preformed Line Products by 199.2% in the fourth quarter. UBS Group AG now owns 22,629 shares of the technology company’s stock worth $4,678,000 after purchasing an additional 15,067 shares during the period. Riverwater Partners LLC lifted its position in Preformed Line Products by 73.0% in the fourth quarter. Riverwater Partners LLC now owns 5,544 shares of the technology company’s stock worth $1,146,000 after purchasing an additional 2,340 shares during the period. Finally, Congruence Capital LLC bought a new position in Preformed Line Products during the 4th quarter valued at $3,186,000. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Trading Down 1.8%

Shares of NASDAQ:PLPC opened at $340.03 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 3.01. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 48.93 and a beta of 0.88. Preformed Line Products Company has a 1-year low of $139.04 and a 1-year high of $414.35. The company has a 50 day moving average price of $366.35 and a 200 day moving average price of $302.21.

Preformed Line Products (NASDAQ:PLPC) last posted 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. The company had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $178.00 million. Preformed Line Products had a return on equity of 8.96% and a net margin of 4.92%.

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. Preformed Line Products’s payout ratio is 12.09%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PLPC shares. Weiss Ratings cut Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded Preformed Line Products from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $275.00.

Preformed Line Products Company 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.