Robotti Robert Takes Position in Preformed Line Products Company $PLPC

Robotti Robert acquired a new stake in Preformed Line Products Company (NASDAQ:PLPC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,935 shares of the technology company’s stock, valued at approximately $2,437,000.

A number of other large investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in Preformed Line Products by 2,562.5% during the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after buying an additional 205 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of 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 acquiring an additional 199 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Preformed Line Products by 132.4% during the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock worth $52,000 after acquiring an additional 143 shares in the last quarter. State of Wyoming acquired a new position in shares of Preformed Line Products during the 2nd quarter valued at about $63,000. Finally, Huntington National Bank increased its holdings in shares of Preformed Line Products by 55.5% during the 4th quarter. Huntington National Bank now owns 311 shares of the technology company’s stock valued at $64,000 after acquiring an additional 111 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Stock Performance

Shares of NASDAQ PLPC opened at $444.76 on Wednesday. Preformed Line Products Company has a 12 month low of $177.18 and a 12 month high of $504.69. The company has a market cap of $2.17 billion, a P/E ratio of 50.09 and a beta of 0.91. The business’s 50 day moving average is $379.44 and its two-hundred day moving average is $330.32. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $193.00 million. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%.

Preformed Line Products Dividend Announcement

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

Insiders Place Their Bets

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were 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 SEC, which can be accessed through this link. 33.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLPC. Wall Street Zen upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Finally, Freedom Capital upgraded shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, Preformed Line Products has an average rating of “Strong 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.