Preformed Line Products (NASDAQ:PLPC) Stock Position Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in Preformed Line Products (NASDAQ:PLPC) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,600 shares of the technology company’s stock after buying an additional 200 shares during the quarter. Renaissance Technologies LLC’s holdings in Preformed Line Products were worth $8,294,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Preformed Line Products by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock valued at $49,222,000 after buying an additional 5,913 shares in the last quarter. Easterly Investment Partners LLC acquired a new stake in Preformed Line Products in the second quarter valued at approximately $1,658,000. Janney Montgomery Scott LLC grew its position in Preformed Line Products by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock worth $1,823,000 after acquiring an additional 192 shares in the last quarter. Denali Advisors LLC increased its stake in shares of Preformed Line Products by 37.9% during the 1st quarter. Denali Advisors LLC now owns 4,000 shares of the technology company’s stock worth $515,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Preformed Line Products by 50.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 6,090 shares of the technology company’s stock worth $758,000 after purchasing an additional 2,030 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Stock Performance

PLPC opened at $122.43 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.57 and a current ratio of 2.93. The company has a market cap of $602.11 million, a PE ratio of 11.84 and a beta of 0.61. The stock has a 50-day moving average of $120.94 and a 200-day moving average of $124.66. Preformed Line Products has a 52-week low of $104.96 and a 52-week high of $170.83.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.89 EPS for the quarter. The company had revenue of $138.72 million for the quarter. Preformed Line Products had a net margin of 6.90% and a return on equity of 9.83%.

Preformed Line Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, October 1st. Preformed Line Products’s dividend payout ratio (DPR) is 7.74%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th.

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.