Susquehanna International Group LLP Purchases 1,924 Shares of Preformed Line Products Company $PLPC

Susquehanna International Group LLP boosted its position in Preformed Line Products Company (NASDAQ:PLPC) by 35.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,333 shares of the technology company’s stock after purchasing an additional 1,924 shares during the quarter. Susquehanna International Group LLP owned about 0.15% of Preformed Line Products worth $3,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avalon Trust Co acquired a new stake in shares of Preformed Line Products during the 2nd quarter worth $82,000. Russell Investments Group Ltd. raised its stake in Preformed Line Products by 2,562.5% in the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after purchasing an additional 205 shares in the last quarter. Royal Bank of Canada raised its stake in Preformed Line Products by 132.4% in the fourth quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock valued at $52,000 after purchasing an additional 143 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Preformed Line Products by 199.0% during the second 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 period. Finally, Huntington National Bank lifted its position in Preformed Line Products by 55.5% during the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock worth $64,000 after purchasing an additional 111 shares during the period. 41.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLPC has been the topic of a number of recent analyst reports. 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 downgraded shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Wall Street Zen raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $275.00.

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $404.05 on Monday. The company’s 50 day moving average price is $386.48 and its 200-day moving average price is $338.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 2.99. Preformed Line Products Company has a 52-week low of $184.02 and a 52-week high of $504.69. The company has a market capitalization of $1.98 billion, a P/E ratio of 45.50 and a beta of 0.91.

Preformed Line Products (NASDAQ:PLPC) last announced 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. The business had revenue of $212.68 million during the quarter, compared to the consensus estimate of $193.00 million. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%.

Preformed Line Products Dividend Announcement

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

Insider Activity at Preformed Line Products

In related news, Director Glen E. Corlett sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 33.00% of the stock is currently owned by insiders.

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.