Preformed Line Products (NASDAQ:PLPC) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in shares of Preformed Line Products (NASDAQ:PLPC) by 9.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,490 shares of the technology company’s stock after selling 600 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Preformed Line Products were worth $703,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PLPC. Innealta Capital LLC purchased a new position in Preformed Line Products during the second quarter worth about $27,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Preformed Line Products during the 2nd quarter valued at approximately $52,000. Mather Group LLC. acquired a new position in Preformed Line Products in the second quarter valued at approximately $64,000. SG Americas Securities LLC purchased a new position in Preformed Line Products in the third quarter worth approximately $119,000. Finally, Quest Partners LLC acquired a new stake in Preformed Line Products during the second quarter worth $196,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Preformed Line Products Trading Down 2.3 %

NASDAQ PLPC opened at $134.03 on Friday. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $142.91. The stock has a market capitalization of $656.75 million, a P/E ratio of 20.12 and a beta of 0.62. The firm’s 50-day moving average is $124.72 and its two-hundred day moving average is $125.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56.

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

Preformed Line Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. Preformed Line Products’s payout ratio is presently 12.01%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 7th.

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.