Ritholtz Wealth Management Lowers Holdings in Preformed Line Products (NASDAQ:PLPC)

Ritholtz Wealth Management decreased its position in shares of Preformed Line Products (NASDAQ:PLPC) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,499 shares of the technology company’s stock after selling 88 shares during the quarter. Ritholtz Wealth Management’s holdings in Preformed Line Products were worth $319,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Preformed Line Products during the third quarter worth about $103,000. SG Americas Securities LLC acquired a new position in Preformed Line Products during the 3rd quarter worth approximately $119,000. BNP Paribas Financial Markets raised its stake in shares of Preformed Line Products by 13.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock worth $304,000 after buying an additional 274 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Preformed Line Products by 62.4% in the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after buying an additional 981 shares in the last quarter. Finally, Summit Global Investments acquired a new position in Preformed Line Products during the third quarter worth $345,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Analyst Ratings Changes

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

Preformed Line Products Trading Up 2.6 %

Shares of PLPC opened at $129.20 on Wednesday. The firm’s 50-day moving average is $131.19 and its two-hundred day moving average is $125.75. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $145.28. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $633.08 million, a P/E ratio of 19.40 and a beta of 0.63.

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

Preformed Line Products Dividend Announcement

The firm 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 0.62%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s payout ratio is currently 12.01%.

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.