Hsbc Holdings PLC Purchases New Position in Preformed Line Products Company $PLPC

Hsbc Holdings PLC purchased a new stake in shares of Preformed Line Products Company (NASDAQ:PLPC) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,532 shares of the technology company’s stock, valued at approximately $417,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Russell Investments Group Ltd. grew its position in shares of Preformed Line Products by 22.1% in the 4th quarter. Russell Investments Group Ltd. now owns 260 shares of the technology company’s stock worth $54,000 after buying an additional 47 shares during the last quarter. Pullen Investment Management LLC raised its holdings in shares of Preformed Line Products by 1.4% during the first quarter. Pullen Investment Management LLC now owns 6,891 shares of the technology company’s stock valued at $1,866,000 after acquiring an additional 92 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Preformed Line Products by 6.6% during the second quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock valued at $257,000 after acquiring an additional 100 shares in the last quarter. Huntington National Bank raised its holdings in shares of Preformed Line Products by 55.5% during the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock valued at $64,000 after acquiring an additional 111 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Preformed Line Products by 3.5% in the second quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company’s stock valued at $611,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Preformed Line Products Trading Down 3.1%

PLPC opened at $356.98 on Friday. The stock has a market cap of $1.75 billion, a PE ratio of 40.20 and a beta of 0.88. The company has a quick ratio of 1.78, a current ratio of 3.01 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $360.69 and a 200-day moving average of $312.24. Preformed Line Products Company has a 52 week low of $145.55 and a 52 week high of $414.35.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $2.41 by $2.08. The company had revenue of $212.68 million for the quarter, compared to analyst estimates of $193.00 million. Preformed Line Products had a return on equity of 10.77% and a net margin of 5.82%.

Preformed Line Products Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on PLPC. Weiss Ratings reissued a “hold (c+)” rating on shares of Preformed Line Products in a research report on Friday, July 24th. Wall Street Zen raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Freedom Capital lowered shares of Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Preformed Line Products has an average rating of “Hold” and a consensus target price 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.