Teacher Retirement System of Texas Has $1.59 Million Position in Preformed Line Products (NASDAQ:PLPC)

Teacher Retirement System of Texas lessened its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,408 shares of the technology company’s stock after selling 2,439 shares during the period. Teacher Retirement System of Texas owned 0.25% of Preformed Line Products worth $1,586,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PLPC. JPMorgan Chase & Co. increased its position in shares of Preformed Line Products by 93.3% in the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock worth $1,040,000 after purchasing an additional 3,919 shares during the period. Franklin Resources Inc. increased its holdings in Preformed Line Products by 21.3% in the 3rd 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 period. FMR LLC raised its position in shares of Preformed Line Products by 27.7% in the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock valued at $3,214,000 after buying an additional 5,442 shares in the last quarter. Ingalls & Snyder LLC bought a new stake in shares of Preformed Line Products during the 3rd quarter worth approximately $521,000. Finally, Barclays PLC boosted its position in shares of Preformed Line Products by 135.6% during the 3rd quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock worth $638,000 after acquiring an additional 2,871 shares in the last quarter. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Price Performance

Shares of PLPC stock opened at $142.72 on Friday. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $154.90. 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 business has a fifty day simple moving average of $137.95 and a 200 day simple moving average of $131.41. The company has a market cap of $705.18 million, a P/E ratio of 21.43 and a beta of 0.61.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results 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 firm had revenue of $167.12 million for the quarter.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st will be issued 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 is Tuesday, April 1st. Preformed Line Products’s payout ratio is 10.67%.

Analyst Upgrades and Downgrades

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