Royce & Associates LP Has $24.33 Million Stock Holdings in Preformed Line Products Company $PLPC

Royce & Associates LP decreased its holdings in Preformed Line Products Company (NASDAQ:PLPC) by 11.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,703 shares of the technology company’s stock after selling 15,430 shares during the quarter. Royce & Associates LP owned 2.40% of Preformed Line Products worth $24,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of America Corp DE raised its stake in Preformed Line Products by 6.6% in the 2nd quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock worth $257,000 after purchasing an additional 100 shares in the last quarter. Quantinno Capital Management LP raised its stake in Preformed Line Products by 3.5% in the 2nd quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company’s stock worth $611,000 after purchasing an additional 128 shares in the last quarter. Huntington National Bank raised its stake in Preformed Line Products by 181.7% in the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock worth $39,000 after purchasing an additional 129 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in Preformed Line Products in the 3rd quarter worth about $29,000. Finally, Tower Research Capital LLC TRC raised its stake in Preformed Line Products by 199.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PLPC has been the subject of several analyst reports. Loop Capital set a $275.00 price objective on shares of Preformed Line Products in a research note on Monday, March 9th. Freedom Capital cut shares of Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings lowered shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Preformed Line Products has an average rating of “Hold” and a consensus target price of $275.00.

Preformed Line Products Price Performance

PLPC stock opened at $376.89 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 3.01 and a debt-to-equity ratio of 0.07. Preformed Line Products Company has a 12 month low of $136.61 and a 12 month high of $378.56. The firm has a market cap of $1.84 billion, a P/E ratio of 54.23 and a beta of 0.88. The company’s 50-day moving average price is $315.95 and its two-hundred day moving average price is $262.99.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.32. The company had revenue of $176.28 million for the quarter, compared to analyst estimates of $178.00 million. Preformed Line Products had a net margin of 4.92% and a return on equity of 8.96%.

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Wednesday, April 1st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. Preformed Line Products’s payout ratio is 12.09%.

Preformed Line Products Profile

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.