Easterly Investment Partners LLC Lowers Stake in Preformed Line Products (NASDAQ:PLPC)

Easterly Investment Partners LLC lessened its holdings in Preformed Line Products (NASDAQ:PLPC) by 43.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,896 shares of the technology company’s stock after selling 5,293 shares during the period. Easterly Investment Partners LLC owned about 0.14% of Preformed Line Products worth $881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PLPC. 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. Proficio Capital Partners LLC purchased a new position in shares of Preformed Line Products during the 4th quarter worth $1,764,000. Royce & Associates LP grew its stake in shares of Preformed Line Products by 3.1% in the 4th quarter. Royce & Associates LP now owns 314,094 shares of the technology company’s stock valued at $40,138,000 after buying an additional 9,458 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Preformed Line Products during the fourth quarter worth $771,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Preformed Line Products during the fourth quarter worth about $703,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Trading Up 0.6 %

NASDAQ PLPC opened at $145.78 on Friday. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $137.62 and a two-hundred day moving average of $131.21. The stock has a market capitalization of $720.30 million, a PE ratio of 21.89 and a beta of 0.61. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $154.90.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Thursday, March 13th. The technology company reported $2.13 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 company had revenue of $167.12 million for the quarter.

Preformed Line Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 1st. Preformed Line Products’s payout ratio is 10.67%.

Wall Street Analyst Weigh In

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

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.