BlackRock Inc. lifted its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,514 shares of the technology company’s stock after acquiring an additional 20,444 shares during the quarter. BlackRock Inc.’s holdings in Preformed Line Products were worth $10,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Balter Liquid Alternatives LLC increased its holdings in Preformed Line Products by 11.9% in the second quarter. Balter Liquid Alternatives LLC now owns 11,471 shares of the technology company’s stock worth $637,000 after purchasing an additional 1,221 shares in the last quarter. HighTower Advisors LLC bought a new stake in Preformed Line Products in the second quarter worth approximately $8,815,000. RBF Capital LLC bought a new stake in Preformed Line Products in the second quarter worth approximately $289,000. Northern Trust Corp increased its holdings in Preformed Line Products by 2.6% in the second quarter. Northern Trust Corp now owns 40,235 shares of the technology company’s stock worth $2,234,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Strs Ohio increased its holdings in Preformed Line Products by 8.3% in the second quarter. Strs Ohio now owns 3,900 shares of the technology company’s stock worth $216,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 48.21% of the company’s stock.

A number of equities research analysts have weighed in on the company. TheStreet upgraded Preformed Line Products from a “c+” rating to a “b-” rating in a report on Wednesday, July 31st. ValuEngine upgraded Preformed Line Products from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, BidaskClub upgraded Preformed Line Products from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th.

Shares of PLPC stock opened at $51.31 on Monday. The company has a market cap of $259.20 million, a P/E ratio of 10.96 and a beta of 1.48. The stock has a 50 day simple moving average of $52.13 and a two-hundred day simple moving average of $52.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.73 and a current ratio of 2.84. Preformed Line Products has a fifty-two week low of $45.12 and a fifty-two week high of $75.86.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Friday, August 2nd. The technology company reported $1.56 earnings per share for the quarter. The business had revenue of $114.84 million during the quarter. Preformed Line Products had a return on equity of 9.58% and a net margin of 5.65%.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Tuesday, October 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.56%.

Preformed Line Products Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.

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Institutional Ownership by Quarter for Preformed Line Products (NASDAQ:PLPC)

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