KLP Kapitalforvaltning AS Acquires New Position in Preformed Line Products (NASDAQ:PLPC)

KLP Kapitalforvaltning AS bought a new position in Preformed Line Products (NASDAQ:PLPC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,500 shares of the technology company’s stock, valued at approximately $703,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PLPC. Royce & Associates LP lifted its holdings 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 worth $40,138,000 after acquiring an additional 9,458 shares during the last quarter. American Century Companies Inc. lifted its stake in 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 worth $6,269,000 after purchasing an additional 30,245 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Preformed Line Products by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,760 shares of the technology company’s stock valued at $4,186,000 after buying an additional 186 shares during the period. FMR LLC grew its stake in shares of Preformed Line Products by 27.7% during the third 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 during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Preformed Line Products by 1.6% in the fourth quarter. Victory Capital Management Inc. now owns 17,293 shares of the technology company’s stock worth $2,210,000 after buying an additional 270 shares during the period. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Stock Up 1.6 %

Shares of Preformed Line Products stock opened at $142.27 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $154.90. The company’s 50 day moving average price is $138.50 and its 200-day moving average price is $132.01. The stock has a market capitalization of $702.96 million, a price-to-earnings ratio of 21.36 and a beta of 0.61.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The business had revenue of $167.12 million for the quarter.

Preformed Line Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. Preformed Line Products’s dividend payout ratio is presently 10.67%.

Analysts Set New Price Targets

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

Preformed Line Products Company 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.