GSA Capital Partners LLP Makes New Investment in Preformed Line Products Company $PLPC

GSA Capital Partners LLP acquired a new position in Preformed Line Products Company (NASDAQ:PLPC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,127 shares of the technology company’s stock, valued at approximately $873,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLPC. Prudential Financial Inc. bought a new stake in shares of Preformed Line Products during the 2nd quarter valued at about $383,000. Hsbc Holdings PLC bought a new stake in Preformed Line Products in the second quarter worth approximately $286,000. Arrowstreet Capital Limited Partnership lifted its stake in Preformed Line Products by 45.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 23,497 shares of the technology company’s stock valued at $3,755,000 after buying an additional 7,332 shares during the period. First Trust Advisors LP lifted its stake in Preformed Line Products by 7.4% in the second quarter. First Trust Advisors LP now owns 24,412 shares of the technology company’s stock valued at $3,901,000 after buying an additional 1,689 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $585,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Preformed Line Products

In related news, Director Glen E. Corlett sold 2,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total value of $914,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 33.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Finally, Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and a consensus target price of $275.00.

Preformed Line Products Stock Down 6.4%

Shares of NASDAQ PLPC opened at $444.76 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.88. The company has a 50-day moving average price of $379.44 and a 200-day moving average price of $330.32. The stock has a market capitalization of $2.17 billion, a P/E ratio of 50.09 and a beta of 0.91. Preformed Line Products Company has a 1 year low of $177.18 and a 1 year high of $504.69.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $2.08. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%. The company had revenue of $212.68 million for the quarter, compared to analyst estimates of $193.00 million.

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Wednesday, July 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. Preformed Line Products’s payout ratio is presently 9.46%.

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.