Riverwater Partners LLC Grows Stock Holdings in Preformed Line Products Company $PLPC

Riverwater Partners LLC boosted its stake in shares of Preformed Line Products Company (NASDAQ:PLPC) by 73.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,544 shares of the technology company’s stock after buying an additional 2,340 shares during the quarter. Riverwater Partners LLC’s holdings in Preformed Line Products were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Preformed Line Products during the 3rd quarter worth approximately $1,365,000. HighTower Advisors LLC increased its stake in Preformed Line Products by 11.6% in the 4th quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock valued at $199,720,000 after purchasing an additional 100,113 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Preformed Line Products during the third quarter worth $670,000. Round Rock Advisors LLC boosted its position 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. Finally, UBS Group AG boosted its position in Preformed Line Products by 199.2% during 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 in the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLPC. Loop Capital set a $275.00 target price on Preformed Line Products in a report on Monday, March 9th. Weiss Ratings lowered shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Freedom Capital cut shares of Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $275.00.

Preformed Line Products Stock Performance

Preformed Line Products stock opened at $376.47 on Friday. Preformed Line Products Company has a fifty-two week low of $139.04 and a fifty-two week high of $397.34. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 54.17 and a beta of 0.90. The stock has a fifty day moving average of $341.63 and a two-hundred day moving average of $277.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 3.01.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data 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 business had revenue of $176.28 million for the quarter, compared to the consensus estimate 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 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.