State Street Corp Has $8.19 Million Stock Position in Preformed Line Products (NASDAQ:PLPC)

State Street Corp lessened its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 3.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,936 shares of the technology company’s stock after selling 2,089 shares during the quarter. State Street Corp’s holdings in Preformed Line Products were worth $8,189,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Rhumbline Advisers grew its stake in shares of Preformed Line Products by 2.3% in the second quarter. Rhumbline Advisers now owns 3,861 shares of the technology company’s stock worth $481,000 after purchasing an additional 86 shares during the last quarter. Private Advisor Group LLC raised its stake in Preformed Line Products by 4.8% during the third quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock worth $353,000 after buying an additional 125 shares during the last quarter. Koss Olinger Consulting LLC lifted its holdings in Preformed Line Products by 3.8% in the third quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock valued at $477,000 after buying an additional 138 shares during the period. Renaissance Technologies LLC boosted its position in Preformed Line Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock valued at $8,294,000 after acquiring an additional 200 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Preformed Line Products during the 2nd quarter worth about $27,000. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Preformed Line Products Stock Down 2.1 %

Shares of NASDAQ:PLPC opened at $126.97 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The business’s 50 day simple moving average is $131.82 and its two-hundred day simple moving average is $125.83. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $145.28. The firm has a market cap of $621.90 million, a P/E ratio of 19.06 and a beta of 0.60.

Preformed Line Products (NASDAQ:PLPC) last released 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 return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s dividend payout ratio is presently 12.01%.

About Preformed Line Products

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.