JPMorgan Chase & Co. Increases Stake in Preformed Line Products (NASDAQ:PLPC)

JPMorgan Chase & Co. raised its position in shares of Preformed Line Products (NASDAQ:PLPC) by 93.3% in the third quarter, Holdings Channel reports. The firm owned 8,119 shares of the technology company’s stock after acquiring an additional 3,919 shares during the quarter. JPMorgan Chase & Co.’s holdings in Preformed Line Products were worth $1,040,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PLPC. Franklin Resources Inc. boosted its position in shares of Preformed Line Products by 21.3% during the third quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company’s stock valued at $389,000 after buying an additional 556 shares during the last quarter. FMR LLC lifted its stake in Preformed Line Products by 27.7% during the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock valued at $3,214,000 after acquiring an additional 5,442 shares during the period. Ingalls & Snyder LLC purchased a new stake in shares of Preformed Line Products during the 3rd quarter valued at about $521,000. Barclays PLC grew its stake in shares of Preformed Line Products by 135.6% in the third quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock worth $638,000 after acquiring an additional 2,871 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Preformed Line Products by 5.0% during the third quarter. Janus Henderson Group PLC now owns 7,885 shares of the technology company’s stock valued at $1,010,000 after purchasing an additional 376 shares during the last quarter. 41.19% of the stock is owned by hedge funds and other institutional investors.

Preformed Line Products Stock Up 8.1 %

Shares of PLPC stock opened at $141.80 on Friday. 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 has a one year low of $109.01 and a one year high of $145.28. The company’s fifty day moving average price is $130.79 and its 200-day moving average price is $126.08. The company has a market capitalization of $694.54 million, a price-to-earnings ratio of 21.29 and a beta of 0.63.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The firm 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is presently 12.01%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th.

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.