Dimensional Fund Advisors LP Lowers Stake in Preformed Line Products (NASDAQ:PLPC)

Dimensional Fund Advisors LP lowered its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 371,406 shares of the technology company’s stock after selling 3,469 shares during the period. Dimensional Fund Advisors LP owned 0.08% of Preformed Line Products worth $46,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PLPC. Cardinal Capital Management raised its position in shares of Preformed Line Products by 22.6% during the 1st quarter. Cardinal Capital Management now owns 8,158 shares of the technology company’s stock valued at $1,050,000 after buying an additional 1,503 shares in the last quarter. Ausbil Investment Management Ltd purchased a new stake in shares of Preformed Line Products during the 1st quarter valued at $195,000. Denali Advisors LLC raised its position 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 valued at $515,000 after buying an additional 1,100 shares in the last quarter. WealthBridge Capital Management LLC raised its position in Preformed Line Products by 12.7% in the 1st quarter. WealthBridge Capital Management LLC now owns 7,100 shares of the technology company’s stock worth $914,000 after purchasing an additional 800 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Preformed Line Products by 29.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,231 shares of the technology company’s stock worth $416,000 after purchasing an additional 726 shares during the period. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Analysts Set New Price Targets

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

Preformed Line Products Price Performance

Shares of NASDAQ:PLPC opened at $130.55 on Monday. The stock has a market cap of $641.00 million, a PE ratio of 12.63 and a beta of 0.61. The company’s fifty day moving average is $121.17 and its 200 day moving average is $124.68. Preformed Line Products has a 52 week low of $104.96 and a 52 week high of $170.83. The company has a quick ratio of 1.57, a current ratio of 2.93 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.89 earnings per share (EPS) for the quarter. The business 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 Dividend Announcement

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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Tuesday, October 1st. Preformed Line Products’s dividend payout ratio (DPR) is presently 7.74%.

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.