Susquehanna International Group LLP Buys 1,924 Shares of Preformed Line Products Company $PLPC

Susquehanna International Group LLP increased its position in Preformed Line Products Company (NASDAQ:PLPC) by 35.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,333 shares of the technology company’s stock after buying an additional 1,924 shares during the period. Susquehanna International Group LLP’s holdings in Preformed Line Products were worth $3,011,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP increased its holdings in shares of Preformed Line Products by 234.3% during the second quarter. Wasatch Advisors LP now owns 377,367 shares of the technology company’s stock valued at $154,932,000 after acquiring an additional 264,478 shares in the last quarter. BlackRock Inc. acquired a new stake in Preformed Line Products in the 2nd quarter valued at $93,241,000. HighTower Advisors LLC grew its position 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 during the period. Informed Momentum Co LLC bought a new stake in Preformed Line Products during the 4th quarter valued at $4,640,000. Finally, Ranger Investment Management L.P. bought a new stake in Preformed Line Products during the 2nd quarter valued at $7,940,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Glen E. Corlett sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 33.00% of the stock is currently owned by corporate insiders.

Preformed Line Products Price Performance

Preformed Line Products stock opened at $404.05 on Monday. Preformed Line Products Company has a 52 week low of $184.02 and a 52 week high of $504.69. The company’s 50 day moving average price is $386.48 and its two-hundred day moving average price is $338.92. The stock has a market cap of $1.98 billion, a P/E ratio of 45.50 and a beta of 0.91. 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 released its earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $2.08. The company had revenue of $212.68 million during the quarter, compared to analyst estimates of $193.00 million. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%.

Preformed Line Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Wednesday, July 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, July 1st. Preformed Line Products’s dividend payout ratio is 9.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $275.00.

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.