6,523 Shares in Preformed Line Products Company $PLPC Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Preformed Line Products Company (NASDAQ:PLPC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,523 shares of the technology company’s stock, valued at approximately $2,678,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLPC. Wasatch Advisors LP raised its holdings in Preformed Line Products by 234.3% in the 2nd quarter. Wasatch Advisors LP now owns 377,367 shares of the technology company’s stock valued at $154,932,000 after buying an additional 264,478 shares during the period. BlackRock Inc. purchased a new stake in shares of Preformed Line Products in the 2nd quarter valued at approximately $93,241,000. HighTower Advisors LLC lifted its holdings in shares of Preformed Line Products by 11.6% in the 4th quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock worth $199,720,000 after acquiring an additional 100,113 shares during the last quarter. Informed Momentum Co LLC purchased a new position in shares of Preformed Line Products during the 4th quarter worth approximately $4,640,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Preformed Line Products by 81.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 42,713 shares of the technology company’s stock valued at $8,378,000 after purchasing an additional 19,216 shares during the period. 41.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Preformed Line Products

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total value of $914,040.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 33.00% of the company’s stock.

Preformed Line Products Trading Down 4.0%

NASDAQ:PLPC opened at $404.05 on Friday. Preformed Line Products Company has a 12-month low of $184.02 and a 12-month high of $504.69. The firm has a market cap of $1.98 billion, a PE ratio of 45.50 and a beta of 0.91. The company has a current ratio of 2.99, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $386.48 and a 200 day moving average price of $338.47.

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

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Wednesday, July 1st were paid a $0.21 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. Preformed Line Products’s payout ratio is currently 9.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Freedom Capital upgraded Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings cut Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Finally, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $275.00.

Preformed Line Products Company 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.