Preformed Line Products (NASDAQ:PLPC) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC lowered its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 43.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,896 shares of the technology company’s stock after selling 5,293 shares during the period. Easterly Investment Partners LLC’s holdings in Preformed Line Products were worth $881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in Preformed Line Products by 50.7% in the 4th quarter. JPMorgan Chase & Co. now owns 12,238 shares of the technology company’s stock worth $1,564,000 after acquiring an additional 4,119 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Preformed Line Products during the fourth quarter worth $703,000. American Century Companies Inc. grew its position in shares of Preformed Line Products by 160.8% in the fourth quarter. American Century Companies Inc. now owns 49,057 shares of the technology company’s stock valued at $6,269,000 after purchasing an additional 30,245 shares during the period. Royce & Associates LP grew its position in shares of Preformed Line Products by 3.1% in the fourth quarter. Royce & Associates LP now owns 314,094 shares of the technology company’s stock valued at $40,138,000 after purchasing an additional 9,458 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Preformed Line Products in the fourth quarter valued at $1,764,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th.

Preformed Line Products Stock Performance

Preformed Line Products stock opened at $145.78 on Friday. The firm has a market capitalization of $720.30 million, a PE ratio of 21.89 and a beta of 0.61. The stock’s 50 day moving average price is $137.62 and its 200 day moving average price is $131.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. Preformed Line Products has a one year low of $109.01 and a one year high of $154.90.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Thursday, March 13th. The technology company reported $2.13 EPS for the quarter. The company had revenue of $167.12 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Tuesday, April 1st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 1st. Preformed Line Products’s dividend payout ratio is currently 10.67%.

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.