Carnegie Capital Asset Management LLC Purchases 685 Shares of Preformed Line Products (NASDAQ:PLPC)

Carnegie Capital Asset Management LLC increased its position in Preformed Line Products (NASDAQ:PLPC) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,743 shares of the technology company’s stock after purchasing an additional 685 shares during the period. Carnegie Capital Asset Management LLC owned approximately 0.16% of Preformed Line Products worth $1,036,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Preformed Line Products by 0.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,931 shares of the technology company’s stock valued at $2,643,000 after acquiring an additional 89 shares during the period. Rhumbline Advisers lifted its stake in Preformed Line Products by 2.6% during the 3rd quarter. Rhumbline Advisers now owns 3,746 shares of the technology company’s stock valued at $609,000 after acquiring an additional 96 shares during the period. Jump Financial LLC lifted its stake in Preformed Line Products by 4.7% during the 3rd quarter. Jump Financial LLC now owns 2,200 shares of the technology company’s stock valued at $358,000 after acquiring an additional 99 shares during the period. Swiss National Bank lifted its stake in Preformed Line Products by 1.9% during the 3rd quarter. Swiss National Bank now owns 5,453 shares of the technology company’s stock valued at $887,000 after acquiring an additional 100 shares during the period. Finally, Cardinal Capital Management lifted its stake in Preformed Line Products by 1.6% during the 3rd quarter. Cardinal Capital Management now owns 6,583 shares of the technology company’s stock valued at $1,072,000 after acquiring an additional 103 shares during the period. Institutional investors own 41.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 8th.

Preformed Line Products Price Performance

NASDAQ PLPC opened at $123.11 on Wednesday. Preformed Line Products has a 52 week low of $104.96 and a 52 week high of $184.82. The firm has a market capitalization of $606.93 million, a P/E ratio of 9.71 and a beta of 0.74. The company has a quick ratio of 1.58, a current ratio of 2.92 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $128.59 and a 200-day moving average price of $131.26.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Thursday, March 7th. The technology company reported $1.29 earnings per share (EPS) for the quarter. The company had revenue of $145.60 million during the quarter. Preformed Line Products had a net margin of 9.46% and a return on equity of 15.89%.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Tuesday, April 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Monday, April 1st. Preformed Line Products’s dividend payout ratio is 6.31%.

About Preformed Line Products

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, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.