American Century Companies Inc. grew its holdings in Preformed Line Products (NASDAQ:PLPC – Free Report) by 82.4% in the second quarter, Holdings Channel.com reports. The firm owned 4,822 shares of the technology company’s stock after purchasing an additional 2,179 shares during the period. American Century Companies Inc.’s holdings in Preformed Line Products were worth $601,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers raised its position in Preformed Line Products by 2.3% during the second quarter. Rhumbline Advisers now owns 3,861 shares of the technology company’s stock valued at $481,000 after buying an additional 86 shares during the period. Janney Montgomery Scott LLC grew its stake in Preformed Line Products by 1.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock valued at $1,823,000 after acquiring an additional 192 shares in the last quarter. Innealta Capital LLC purchased a new position in Preformed Line Products during the 2nd quarter valued at about $27,000. Russell Investments Group Ltd. increased its holdings in shares of Preformed Line Products by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,003 shares of the technology company’s stock valued at $515,000 after purchasing an additional 254 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Preformed Line Products in the second quarter worth approximately $52,000. Institutional investors and hedge funds own 41.19% of the company’s stock.
Preformed Line Products Trading Up 1.3 %
Preformed Line Products stock opened at $123.20 on Thursday. Preformed Line Products has a 12 month low of $104.96 and a 12 month high of $167.58. The company has a quick ratio of 1.57, a current ratio of 2.93 and a debt-to-equity ratio of 0.07. The stock has a market cap of $604.91 million, a P/E ratio of 11.94 and a beta of 0.61. The company’s fifty day simple moving average is $121.01 and its 200-day simple moving average is $124.62.
Preformed Line Products Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Tuesday, October 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.65%. Preformed Line Products’s dividend payout ratio is currently 7.74%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.
Check Out Our Latest Report on PLPC
Preformed Line Products Company 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.
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