Lazard Asset Management LLC Buys 979 Shares of Preformed Line Products (NASDAQ:PLPC)

Lazard Asset Management LLC increased its stake in shares of Preformed Line Products (NASDAQ:PLPCGet Rating) by 76.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,252 shares of the technology company’s stock after buying an additional 979 shares during the quarter. Lazard Asset Management LLC’s holdings in Preformed Line Products were worth $138,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PLPC. Royce & Associates LP lifted its position in shares of Preformed Line Products by 19.1% during the 2nd quarter. Royce & Associates LP now owns 256,124 shares of the technology company’s stock worth $15,752,000 after buying an additional 41,048 shares during the period. CM Management LLC lifted its position in shares of Preformed Line Products by 55.6% during the 2nd quarter. CM Management LLC now owns 28,000 shares of the technology company’s stock worth $1,722,000 after buying an additional 10,000 shares during the period. First Trust Advisors LP bought a new position in shares of Preformed Line Products during the 1st quarter worth approximately $623,000. Cardinal Capital Management bought a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $371,000. Finally, State Street Corp lifted its position in shares of Preformed Line Products by 6.8% during the 1st quarter. State Street Corp now owns 55,709 shares of the technology company’s stock worth $3,533,000 after buying an additional 3,567 shares during the period. Institutional investors own 71.11% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Preformed Line Products in a report on Wednesday, October 12th. They set a “strong-buy” rating for the company.

Insider Activity at Preformed Line Products

In related news, major shareholder Barbara P. Ruhlman Revocable Tr sold 810,400 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $44.40, for a total transaction of $35,981,760.00. Following the completion of the sale, the insider now directly owns 158,766 shares of the company’s stock, valued at approximately $7,049,210.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 34.60% of the company’s stock.

Preformed Line Products Trading Up 1.6 %

PLPC stock opened at $89.35 on Tuesday. The business has a fifty day moving average price of $77.56 and a 200 day moving average price of $70.10. Preformed Line Products has a fifty-two week low of $54.97 and a fifty-two week high of $89.72. The stock has a market capitalization of $439.60 million, a price-to-earnings ratio of 9.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.56 and a quick ratio of 1.44.

Preformed Line Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 20th. Investors of record on Monday, October 3rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 0.90%. Preformed Line Products’s dividend payout ratio is 8.50%.

Preformed Line Products Company Profile

(Get Rating)

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire 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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