HighTower Advisors LLC Purchases 46,664 Shares of Preformed Line Products Company $PLPC

HighTower Advisors LLC lifted its position in shares of Preformed Line Products Company (NASDAQ:PLPC) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,014,731 shares of the technology company’s stock after buying an additional 46,664 shares during the quarter. HighTower Advisors LLC owned about 0.21% of Preformed Line Products worth $416,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLPC. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Preformed Line Products in the second quarter valued at $1,322,000. California State Teachers Retirement System grew its holdings in Preformed Line Products by 49,022.6% during the 2nd quarter. California State Teachers Retirement System now owns 1,255,082 shares of the technology company’s stock worth $515,286,000 after acquiring an additional 1,252,527 shares during the period. Odyssean LLC acquired a new stake in Preformed Line Products during the 2nd quarter worth about $216,000. Nykredit A S bought a new position in shares of Preformed Line Products in the 2nd quarter worth about $30,000. Finally, B. Metzler seel. Sohn & Co. AG raised its position in shares of Preformed Line Products by 285.3% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 8,083 shares of the technology company’s stock worth $3,319,000 after acquiring an additional 5,985 shares in the last quarter. Institutional investors own 41.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $398.45 on Monday. The firm has a market cap of $1.95 billion, a PE ratio of 44.87 and a beta of 0.93. Preformed Line Products Company has a 12-month low of $184.02 and a 12-month high of $504.69. The company’s fifty day simple moving average is $386.50 and its 200 day simple moving average is $343.08. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly 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. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%. The firm had revenue of $212.68 million during the quarter, compared to the consensus estimate of $193.00 million.

Insider Activity

In other news, Director Glen E. Corlett sold 2,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total transaction of $914,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 33.00% of the stock is owned by company insiders.

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.