Royce & Associates LP reduced its position in Preformed Line Products (NASDAQ:PLPC) by 6.1% during the 4th quarter, Holdings Channel reports. The firm owned 582,011 shares of the technology company’s stock after selling 37,628 shares during the quarter. Royce & Associates LP owned approximately 0.11% of Preformed Line Products worth $41,352,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Preformed Line Products by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 262,218 shares of the technology company’s stock worth $12,172,000 after purchasing an additional 3,941 shares during the last quarter. 22NW LP acquired a new position in shares of Preformed Line Products during the 3rd quarter valued at about $1,034,000. Vanguard Group Inc. increased its holdings in shares of Preformed Line Products by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 86,179 shares of the technology company’s stock valued at $4,001,000 after acquiring an additional 1,796 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its holdings in shares of Preformed Line Products by 16.2% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 98,222 shares of the technology company’s stock valued at $6,979,000 after acquiring an additional 13,690 shares during the last quarter. Finally, Pratt Collard Advisory Partners LLC acquired a new position in shares of Preformed Line Products during the 4th quarter valued at about $286,000. 44.74% of the stock is currently owned by institutional investors.
In other news, VP J Cecil Curlee, Jr. sold 3,130 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.50, for a total transaction of $214,405.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 37.70% of the company’s stock.
Separately, BidaskClub lowered Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th.
Preformed Line Products (PLPC) opened at $61.49 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.00 and a current ratio of 3.15. The company has a market capitalization of $313.07, a PE ratio of 18.47 and a beta of 1.23. Preformed Line Products has a fifty-two week low of $44.50 and a fifty-two week high of $85.63.
Preformed Line Products declared that its Board of Directors has approved a share buyback plan on Thursday, December 14th that authorizes the company to buyback 250,000 outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Tuesday, January 2nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, December 29th. Preformed Line Products’s dividend payout ratio is 24.02%.
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Preformed Line Products Profile
Preformed Line Products Company (PLPC) is a designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators and information industries. The Company’s products include Formed Wire and Related Hardware Products, Protective Closures, Plastic Products and Other Products.
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