Two Sigma Advisers LP Reduces Stock Position in Preformed Line Products (NASDAQ:PLPC)

Two Sigma Advisers LP lessened its position in shares of Preformed Line Products (NASDAQ:PLPC) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,700 shares of the technology company’s stock after selling 200 shares during the quarter. Two Sigma Advisers LP owned 0.10% of Preformed Line Products worth $601,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Martingale Asset Management L P grew its stake in Preformed Line Products by 0.9% during the 4th quarter. Martingale Asset Management L P now owns 9,131 shares of the technology company’s stock valued at $1,167,000 after purchasing an additional 80 shares during the last quarter. Private Advisor Group LLC grew its stake in Preformed Line Products by 3.6% during the 4th quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company’s stock valued at $365,000 after purchasing an additional 100 shares during the last quarter. SG Americas Securities LLC grew its stake in Preformed Line Products by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock valued at $135,000 after purchasing an additional 122 shares during the last quarter. Invesco Ltd. grew its stake in Preformed Line Products by 0.4% during the 4th quarter. Invesco Ltd. now owns 41,204 shares of the technology company’s stock valued at $5,265,000 after purchasing an additional 172 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Preformed Line Products by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,760 shares of the technology company’s stock valued at $4,186,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Preformed Line Products Stock Up 0.4%

Shares of PLPC opened at $140.64 on Wednesday. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $154.90. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $694.76 million, a price-to-earnings ratio of 21.12 and a beta of 0.75. The stock’s 50-day moving average price is $138.27 and its 200-day moving average price is $135.77.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Thursday, May 1st. The technology company reported $2.33 EPS for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The firm had revenue of $148.54 million for the quarter.

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Tuesday, April 1st were paid a $0.20 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. Preformed Line Products’s payout ratio is 10.14%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th.

Preformed Line Products Profile

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.