New York State Teachers Retirement System Buys 123 Shares of Preformed Line Products (NASDAQ:PLPC)

New York State Teachers Retirement System increased its stake in shares of Preformed Line Products (NASDAQ:PLPC) by 123.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223 shares of the technology company’s stock after purchasing an additional 123 shares during the quarter. New York State Teachers Retirement System’s holdings in Preformed Line Products were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Preformed Line Products by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 363,157 shares of the technology company’s stock worth $46,499,000 after purchasing an additional 4,135 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Preformed Line Products by 6.8% during the 2nd quarter. BlackRock Inc. now owns 172,184 shares of the technology company’s stock worth $26,878,000 after purchasing an additional 11,002 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Preformed Line Products by 215.5% during the 3rd quarter. Invesco Ltd. now owns 68,311 shares of the technology company’s stock worth $11,106,000 after purchasing an additional 46,656 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Preformed Line Products by 2.2% during the 1st quarter. Renaissance Technologies LLC now owns 64,000 shares of the technology company’s stock worth $8,195,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Preformed Line Products by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,825 shares of the technology company’s stock worth $9,726,000 after purchasing an additional 1,332 shares during the last quarter. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Preformed Line Products Trading Up 3.5 %

Shares of NASDAQ:PLPC opened at $124.66 on Friday. The business’s 50-day moving average is $128.47 and its 200 day moving average is $130.85. Preformed Line Products has a 1 year low of $104.96 and a 1 year high of $184.82. The firm has a market capitalization of $614.20 million, a P/E ratio of 9.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.92 and a quick ratio of 1.58.

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

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Tuesday, April 2nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Monday, April 1st. Preformed Line Products’s dividend payout ratio is currently 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.