Preformed Line Products (NASDAQ:PLPC) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Preformed Line Products (NASDAQ:PLPC) by 14.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,611 shares of the technology company’s stock after selling 427 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Preformed Line Products were worth $334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Easterly Investment Partners LLC purchased a new position in Preformed Line Products during the 2nd quarter valued at about $1,658,000. Bank of New York Mellon Corp grew its position in shares of Preformed Line Products by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock valued at $3,411,000 after purchasing an additional 984 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $52,000. Innealta Capital LLC purchased a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $27,000. Finally, Ausbil Investment Management Ltd raised its position in shares of Preformed Line Products by 190.8% during the 2nd quarter. Ausbil Investment Management Ltd now owns 4,490 shares of the technology company’s stock worth $559,000 after purchasing an additional 2,946 shares during the last quarter. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th.

Preformed Line Products Trading Down 2.1 %

Preformed Line Products stock opened at $124.19 on Friday. The stock has a 50-day moving average price of $131.53 and a 200 day moving average price of $125.88. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $145.28. The stock has a market cap of $608.28 million, a PE ratio of 18.65 and a beta of 0.60. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 EPS for the quarter. The business had revenue of $146.97 million during the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is 12.01%.

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.