Preformed Line Products Company $PLPC Shares Bought by Riverwater Partners LLC

Riverwater Partners LLC raised its position in Preformed Line Products Company (NASDAQ:PLPC) by 73.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,544 shares of the technology company’s stock after buying an additional 2,340 shares during the quarter. Riverwater Partners LLC owned approximately 0.11% of Preformed Line Products worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Montag A & Associates Inc. acquired a new position in shares of Preformed Line Products in the 3rd quarter valued at $29,000. Huntington National Bank boosted its stake in Preformed Line Products by 181.7% during 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 during the period. Russell Investments Group Ltd. grew its position in Preformed Line Products by 2,562.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Preformed Line Products by 199.0% during 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 during the last quarter. Finally, State of Wyoming acquired a new position in Preformed Line Products in the second quarter valued at $63,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Trading Up 6.9%

Shares of Preformed Line Products stock opened at $376.47 on Friday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 54.17 and a beta of 0.90. Preformed Line Products Company has a 52-week low of $139.04 and a 52-week high of $397.34. The company’s 50-day simple moving average is $341.63 and its 200-day simple moving average is $277.60. 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 (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.32. Preformed Line Products had a net margin of 4.92% and a return on equity of 8.96%. The firm had revenue of $176.28 million during the quarter, compared to the consensus estimate of $178.00 million.

Analysts Set New Price Targets

PLPC has been the subject of several recent research reports. Loop Capital set a $275.00 target price on shares of Preformed Line Products in a research note on Monday, March 9th. Wall Street Zen upgraded Preformed Line Products from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Freedom Capital downgraded Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings cut Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Preformed Line Products currently has a consensus rating of “Hold” and a consensus price target of $275.00.

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.