LSV Asset Management Decreases Stock Holdings in Preformed Line Products (NASDAQ:PLPC)

LSV Asset Management cut its stake in Preformed Line Products (NASDAQ:PLPC) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,213 shares of the technology company’s stock after selling 1,900 shares during the period. LSV Asset Management owned approximately 1.07% of Preformed Line Products worth $6,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLPC. Russell Investments Group Ltd. increased its holdings in Preformed Line Products by 13.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,749 shares of the technology company’s stock valued at $502,000 after acquiring an additional 455 shares in the last quarter. Strs Ohio increased its stake in shares of Preformed Line Products by 23.5% during the 4th quarter. Strs Ohio now owns 4,200 shares of the technology company’s stock worth $562,000 after purchasing an additional 800 shares in the last quarter. Carnegie Capital Asset Management LLC raised its position in shares of Preformed Line Products by 9.7% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 7,743 shares of the technology company’s stock worth $1,036,000 after purchasing an additional 685 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Preformed Line Products in the 4th quarter valued at approximately $34,000. Finally, New York State Teachers Retirement System grew its holdings in Preformed Line Products by 123.0% during the 4th quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock valued at $30,000 after buying an additional 123 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Preformed Line Products Price Performance

NASDAQ:PLPC opened at $129.00 on Thursday. The firm has a market cap of $634.42 million, a price-to-earnings ratio of 12.48 and a beta of 0.75. Preformed Line Products has a 12-month low of $104.96 and a 12-month high of $184.82. The company has a current ratio of 2.92, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average is $126.56 and its two-hundred day moving average is $128.00.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Thursday, March 7th. The technology company reported $1.29 earnings per share (EPS) for the quarter. The business had revenue of $145.60 million for the quarter. Preformed Line Products had a net margin of 8.20% and a return on equity of 12.73%.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Tuesday, April 2nd were paid a $0.20 dividend. The ex-dividend date was Monday, April 1st. This represents a $0.80 annualized dividend and a yield of 0.62%. Preformed Line Products’s payout ratio is currently 7.74%.

Analysts Set New Price Targets

Separately, StockNews.com cut Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

Preformed Line Products Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.