Los Angeles Capital Management LLC Cuts Position in Preformed Line Products (NASDAQ:PLPC)

Los Angeles Capital Management LLC lowered its holdings in shares of Preformed Line Products (NASDAQ:PLPC) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,490 shares of the technology company’s stock after selling 600 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.11% of Preformed Line Products worth $703,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PLPC. Innealta Capital LLC purchased a new position in shares of Preformed Line Products during the 2nd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Preformed Line Products in the second quarter valued at about $52,000. Mather Group LLC. purchased a new stake in shares of Preformed Line Products during the second quarter worth about $64,000. SG Americas Securities LLC acquired a new position in shares of Preformed Line Products during the 3rd quarter worth about $119,000. Finally, Quest Partners LLC purchased a new position in Preformed Line Products in the 2nd quarter valued at about $196,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Stock Down 2.3 %

NASDAQ PLPC opened at $134.03 on Friday. The business has a fifty day moving average price of $124.72 and a 200 day moving average price of $125.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The company has a market cap of $656.75 million, a P/E ratio of 20.12 and a beta of 0.62. Preformed Line Products has a one year low of $109.01 and a one year high of $142.91.

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

Preformed Line Products Dividend Announcement

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

Analyst Ratings Changes

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

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.