Royce & Associates LP Sells 15,430 Shares of Preformed Line Products Company $PLPC

Royce & Associates LP cut its stake in shares of Preformed Line Products Company (NASDAQ:PLPC) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,703 shares of the technology company’s stock after selling 15,430 shares during the quarter. Royce & Associates LP’s holdings in Preformed Line Products were worth $24,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Montag A & Associates Inc. bought a new stake in shares of Preformed Line Products during the 3rd quarter valued at approximately $29,000. Huntington National Bank grew its holdings in Preformed Line Products by 181.7% during the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock worth $39,000 after acquiring an additional 129 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Preformed Line Products by 2,562.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after acquiring an additional 205 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 199 shares during the last quarter. Finally, State of Wyoming bought a new stake in Preformed Line Products during the 2nd quarter worth approximately $63,000. 41.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Preformed Line Products Trading Up 5.3%

PLPC opened at $376.89 on Wednesday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 54.23 and a beta of 0.88. Preformed Line Products Company has a fifty-two week low of $136.61 and a fifty-two week high of $378.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.01 and a quick ratio of 1.78. The company’s 50 day moving average price is $315.95 and its two-hundred day moving average price is $262.99.

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

Preformed Line Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st were given a $0.21 dividend. The ex-dividend date was Wednesday, April 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%.

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.